Swan Energy Ltd (SEL), a diversified conglomerate with interests in oil and gas, textile and infrastructure businesses, through its subsidiary Triumph Offshore Pvt Ltd (TOPL), has signed an agreement to lease its Floating Storage Regasification Unit (FSRU) vessel named Vasant One to Botas, Turkey's state-owned natural gas and LNG firm.

The lease arrangement generates a daily rental of $250,000 or about Rs 2 crore (as per the present exchange rate) for SEL. Annualised cash accruals from the agreement amount to approximately Rs 800 crore. The lease agreement for 12 month is extendable on mutual agreement.

Read More