About Swan LNG
Natural gas is increasingly emerging as a fuel of choice on account of its clean combustion properties. Natural gas is the third largest energy source after crude oil & coal, and accounts for nearly 24 per cent of global primary consumption. The natural gas market in India is growing at a rapid pace and its share in overall energy basket is increasing. The government is keen on promoting its usage and it is envisaged to increase the share of natural gas in domestic energy basket currently around 6.5% to around 20% by year 2025. To support the increasing gas demand, LNG imports are required to be increased and the same will result in requirement of LNG receiving and regasification facilities in the country.
In order to tap the country’s increasing gas demand, Swan Energy Limited is implementing a greenfield LNG Port project. The Project comprises of development of LNG Port facilities utilizing a Floating Storage and Regasification Unit (“FSRU”) for LNG receipt, storage, regasification and send-out, with a regasification capacity of 5 MMTPA of LNG, off the Jafrabad coast in Amreli district in Gujarat (“the Project”).
SWAN LNG is promoted by Swan Energy Limited (SEL) and currently SEL hold 100% equity in the Company. SEL is currently present in three business segments – textiles, real estate and energy. The company’s shares are listed on both NSE and BSE and its market capitalization as on 30th November 2017 was around Rs. 4,500 crore.
The Project is being implemented through a special purpose Company named Swan LNG Private Ltd. (Swan LNG). SEL is the Lead Promoter of the Company and holds 63% equity of SWAN LNG.
Government of Gujarat entities, viz. Gujarat Maritime Board and Gujarat State Petronet Limited are strategic equity partner in the Project with 15% and 11% equity stake respectively in SWAN LNG. Mitsui O.S.K Line (MOL) holds 11% equity stake in the Company and is also the Technical Partner.
MOL is a leading marine transportation company owning and operating one of the world’s largest merchant fleet. The MOL group owned and operated 883 vessels as on 31st March 2016. The current fleet size includes 91 LNG carriers. Considering the experience and expertise of MOL with fleets of operating FSRU, MOL is the technical cum equity partner for the Project. SWAN LNG is developing the LNG port facilities as the part of Project while the FSRU to be used for the Project shall be owned by SEL or its subsidiary. FSRU to be used for the Project will be hired under a long term Bare Boat Charter (BBC) from the FSRU owning company.
Committed to 24X7, 365 days of operational excellence, we will be ready to handle all types and sizes of LNG Carriers from the world over.
It is our vision to become the world's leading company across the value chain of Natural Gas with state-of-the-tech next generation port facility.
- To perform a significant role in increasing India's energy security by providing a world class infrastructure for receiving, storage and regasification of LNG to ensure safe consistent and efficient operations.
- To manage and operate our resources safely, efficiently and reliably for the benefit of the nation, customers, environment, stakeholders and partners.
- To add to the value chain of the country's LNG imports.
- To remain committed to operational excellence through readily available services anytime of the year.
- To continually upgrade our infrastructure and always remain ahead in terms of technology.