Petronet buys 26 per cent stake in LNG vessel for Rs 1 billion

Petronet LNG Limited (PLL) has bought a 26 per cent stake in a liquefied natural gas (LNG) vessel for a consideration of Rs 1 billion. The LNG vessel, Prachi, was delivered in December 2016. After sea trials, the ship has delivered the first cargo of LNG from the Gorgon project in Australia to Petronet’s Dahej import terminal in Gujarat. The deal has been signed between PLL and LNG Transport Company (No. 4) Private Limited that won the time-charter contract from PLL and got the 173,000 cubic metre vessel built at Hyundai Heavy Industries Company Limited’s Ulsan shipyard in South Korea.