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Global energy investment advisor enters India

Global Union Energy Ventures aims to finance at least three major projects every year in the range of $500 mn to $5 billion.

india Updated: Sep 19, 2006 20:14 IST

Hydrocarbon sector investment advisory firm Global Union Energy Ventures on Tuesday announced its entry into India and said it aimed to finance at least three major projects every year in the range of $500 million to $5 billion.

"We are talking to all the major players in the downstream and midstream sectors in India and hope to do at least three major projects on an annual basis," Global Union Energy Ventures Chairman Jeffrey Waterous said.

He said the company was looking to finance projects in the range of $500 million-$5 billion in India for which it was in talks with both private as well as state-owned firms.

Waterous, however, refused to divulge any details about the Indian companies the firm is talking to.

The firm plans to largely focus on supporting refineries, petrochemical complexes and gas facilities for the growing energy requirement of India, including LNG (Liquefied Natural Gas), domestic pipeline facilities and port rehabilitations.

The company is part financing the Nagarjuna Oil Corp's refinery project in Cuddalore, being built at a cost of $1.1 billion on the east coast.

The mothballed refinery project will have a capacity of 1,25,000 barrels a day. "We are acting as a financial advisor to this project," Waterous said.

Talking about the companies future plans for India, he said, "For us India is undeniably a vital player in the global energy industry with limitless opportunities," he said.