Swan Energy executes concession agreement to develop FSRU project

India Infoline News Service | Mumbai | October 23, 2017 17:13 IST

Govt. of Gujarat and Gujarat Maritime Board gives concession agreement to SLPL to build LNG Port with India's first Floating Storage and Regasification Unit

Crude Oil and Energy
In a filing made to BSE during the trading hours of Monday, Swan LNG Private Limited has executed concession agreement with Gujarat Maritime Board (GMB) and Government of Gujarat to develop India’s first Floating Storage and Regasification Unit (FSRU). The unit will be based out of LNG Port near Jafrabad in Gujarat.

The filing states that the term of the Concession Agreement will be for 30 years, from the date of commencement of operations. Furthermore, the agreement can be extended by next 20 years, after mutual agreement. Post the execution of this agreement, SLPL shall receive exclusive rights as well as authority to develop, design, finance, construct, operate and maintain the LNG Port.

The LNG Port will be the first, all-weather greenfield port that will be developed completely by SLPL.

Swan Energy Ltd ended at Rs 155.1, down by Rs 2.6 or 1.65% from its previous closing of Rs 157.7 on the BSE. The scrip opened at Rs 159.25 and touched a high and low of Rs 165 and Rs 154 respectively. A total of 4.64 lakh shares were traded on the counter

***Note: This is a NSE Chart



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