Swan Energy had shown a lot of energy in the early morning trades, with the stock price rising over 6% to Rs.164; it currently trades at 159 levels, up some 3%.

The stock is reacting positively to the news that two of its subsidiaries have inked a pact with a Japanese company, Mitsui OSK Lines for Gujarat port project.

This will be India’s first LNG dedicated floating storage regassification unit (FSRU), all-weather green field port in Gujarat.

The company has not given an financial details but there are rumours that Mitsui is looking at picking up a 26% stake in this project. There is news also that Mitsui will be paying $13 million for 11% stake in this Swan LNG port.

This 5 million tonne per year project is expected to go on stream by Q1 of 2020.