[vc_row][vc_column][vc_column_text]Swan LNG Private Limited has executed Concession Agreement with Gujarat Maritime Board and government of Gujarat for developing India’s first Floating Storage and Re-gasification Unit based LNG port near Jafrabad in Gujarat.
The term of the agreement is for 30 years from the date of Commencement of Operations and the same can be extended further for a period of 20 years on mutually agreed terms and conditions. With execution of this Agreement, SLPL gets exclusive right and authority to develop, finance, design, construct, operate and maintain the Port.
The LNG port project is first of its kind, all-weather greenfield port project being developed by SLPL.
It is pertinent to note that ‘Shareholders Agreement’ was executed on October 17, 2017 for investment in the Equity Share Capital of ‘Swan LNG Private Limited’ (SLPL), presently a 100 per cent subsidiary of the Company.
The shareholding pattern of the SLPL, post-execution of the above agreement, will be as under:
i. Swan Energy Limited (SEL)-63 per cent;
ii. Gujarat Maritime Board (GMB)-15 per cent;
iii. Gujarat State Petronet Limited (GSPL)-11 per cent
iv. FSRU Venture India One Private Limited (FVIOPL), an affiliate of Mitsui OSK Lines (MOL), Japan-11 per cent.
FVIOPL, an affiliate company of MOL, will also be the Technical Partner for the implementation of the LNG port project.[/vc_column_text][/vc_column][/vc_row]
