India offers 10 pc stake in Petronet to Qatar By Ammar Zaidi

New Delhi, Jan 14 (PTI) India Wednesday offered Qatar a
10 percent stake in Petronet LNG Ltd to get the world’s
largest liquefied natural gas exporter to sell 18 more LNG
cargoes this year and agree on a long-term supply deal for
meeting fuel needs of beleaguered Dabhol power plant.

Qatar has committed to sell six 'loose' LNG cargoes in
the first half of the current year and it may export an
additional 18 cargoes on Petroleum Minister Murli Deora's
request.

"Deora requested for extra cargoes and I simply can't say
no to him," Qatari Oil Minister Abdullah bin Hamad al-Attiyah
told PTI in an interview.

Deora did some breakfast diplomacy with Attiyah to get
commitment for additional cargoes this year and further made a
plea for 2.5 million tonnes of LNG on a long-term contract for
the 2,150 MW Dabhol power plant in Maharashtra.

"Qatar has been our most trusted and reliable friend and
we hold this friendship in high esteem. It has come to our
rescue several times in past and I am confident Attiyah will
not disappoint us when we desperately need fuel for Dabhol,"
Deora said after the meeting.

Deora doled out a 10 percent stake to Qatar Petroleum in
Petronet, a proposal to which Attiyah said, "Our companies
will certainly examine (the offer)".

"It will be done through Qatar Investment Board," he
said.

Qatar had in 2004 offered Indian firms a five per cent
stake in Qatar Petroleum but Oil and Natural Gas Corp (ONGC)
which was assigned to pick up the equity hesitated in making
the USD 135 million payment. The stake is now worth USD 1
billion. (MORE) PTI ANZ
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