Swan Energy, Botas of Turkey ink lease agreement for offshore vessel

Swan Energy, through its subsidiary Triumph Offshore Private (TOPL), has signed an agreement to lease out its floating storage regasification vessel to Botas of Turkey, a state-owned natural gas and LNG firm.

A company statement said the lease arrangement would generate daily rental of about Rs 2 crore (as per the present exchange rate) for SEL – leading to annualised cash accruals of approximately Rs 800 crore.

The duration of the agreement is for 12 months and is extendable. The Swan group was recently in news for acquiring bankrupt Reliance Naval Defence.

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