05-03-2013, 12:07 AM
The Platts reporter is mistaken in her description of what occurred with the government last November. The government did not say it "would take a 50% stake". It said it had agreed with the Company on an option for the government to buy up to an additional 27.5%(resulting in a potential 50% total) interest at a commercial market price and would form a committee to consider that option, which as of now appears to have gone nowhere. Given an acceptable partner, it appears that the government will not do that, and will use at least part of its previously existing 22.5% optional stake at cost for domestic gas purposes, including badly needed power generation.