Jamaica seeking equity investors in LNG company - Business - Jamaica Gleaner - Wednesday | May 2, 2012

Jamaica seeking equity investors in LNG company - Business - Jamaica Gleaner - Wednesday | May 2, 2012: "Jamaica is trying to raise US$100 million (J$8.7 billion) of equity to capitalise the natural gas company formed to oversee the commercial operations of the formative liquefied natural gas (LNG) market.

Jamaica Gas Trust (JGT) is now owned by the state, but under the financing plan formulated by the LNG steering committee, the Government's stake will be diluted to less than 10 per cent of the business, according to Energy Minister Philip Paulwell.

Jamaica has so far seeded US$5 million to the project, which Paulwell said would be capitalised in JGT. The precise equity stake represented by the US$5 million will be determined by the final structure of the financing arrangements."

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