Liquified natural gas (LNG) liquefaction and regasification terminal technologies provider Crown LNG is to become a US publicly listed company through a $685m deal with publicly traded special purpose acquisition company Catcha.
Catcha has agreed to combine with Crown through a transaction that is expected to provide $50m of capital to fund two LNG projects that are currently under development: Kakinada and Grangemouth.
Located on the east coast of India, the Kakinada project directly supports the Indian government’s target of increasing natural gas in the country’s energy mix from approximately 7% today, to 15% by 2030.
India’s gas demand is expected to double during the same period to 115 billion cubic meters, with growth coming from several sectors.
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