Qatar has sought the intervention of the Indian Government to prevail upon GAIL (India) to give up its claim on the 5.2 per cent stake of Asian Development Bank (ADB) in Petronet LNG to enable Qatar Petroleum International (QPI) to pick up the stake sought to be disinvested by the ADB.
Earlier this year, Petronet LNG Ltd. (PLL) had approached QPI to purchase a stake in PLL following ADB’s intention to divest its 5.2 per cent equity in the company.
In a letter to the Petroleum and Natural Gas Minister, Veerappa Moily, Qatar Minister of Energy and Industry Mohammed bin Saleh Al-Sada has said that QPI and ADB, with PLL support, have already engaged in preliminary evaluatory discussions. “I have personally endorsed QPI to move forward as it will be a milestone for strengthening mutual cooperation between our countries.
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