Swan Energy to sell stake in LNG terminal to Turkish firm for $399 mn

Indian oil & gas firm Swan Energy plans to sell a stake in one of its liquefied natural gas (LNG) terminals to Turkish state energy company BOTAS in a deal worth $399 million, it said in an exchange filing on Wednesday.

Swan Energy is the majority owner of Triumph Offshore Pvt Ltd (TOPL), the company that owns the LNG terminal in question.

Fertiliser firm Indian Farmers Fertiliser Cooperative (IFFCO) controls the rest, according to IFFCO's website.

Swan Energy bought a 49% stake in Triumph for a deal worth 4.4 billion rupees ($52.43 million) from IFFCO in June.