State-run gas utility GAIL is keen to buy the Asian Development Bank's 5.25% stake in the country's largest LNG importer Petronet LNG, despite government opposition. It is strategically important for GAIL, as a major gas player, to have its arrangement in the LNG value chain and the entire infrastructure related to the import and supply of gas.
GAIL and three other state-owend organizations- Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) are the promoters of Petronet LNG, holding 12.5 per cent stake each. France's GDF International (GDFI), a wholly owned subsidiary of Gaz de France, holds 10 per cent of the stake in the company. The remaining 34.8 per cent of the stake is held by the public.
GAIL is India's flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.
Company Name | CMP |
---|---|
GAIL India | 204.35 |
Petronet LNG | 297.55 |
Linde India | 8688.80 |
Confidence Petroleum | 82.35 |
Refex Industries | 136.05 |
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