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2018-08-29 10:00:00

SHELL - TOTAL - HAZIRA LNG: 26%

SHELL - TOTAL - HAZIRA LNG: 26%

PLATTSRoyal Dutch Shell has picked up 26% stake in Hazira LNG project in the western Indian state of Gujarat from French energy major Total, the company said on Monday.

Currently, Shell holds a 74% stake in the project.

Shell said the deal with Total was subject to regulatory approval.

Hazira LNG project comprises two companies -- Hazira LNG Pte. Ltd. and Hazira Port Pte. Ltd.

HIPL operates an LNG regasification terminal while HPPL manages a direct berthing multi-cargo port on the west coast.

"This purchase creates a fully-owned and integrated Shell value chain - supply from our global LNG portfolio, regasification at the Hazira facility, and downstream customer sales," Shell's Integrated Gas and New Energies Director Maarten Wetselaar said in the statement.

It would enable Shell to better serve Indian customers and meet the country's long-term need for more and cleaner energy, he added.

In 2004, Total acquired the stake in Hazira LNG project that was commissioned a year later with a regasification capacity of 2.5 million mt.

The regasification capacity was doubled to 5 million mt in 2013.

The LNG terminal at Hazira mainly caters to customers in northern and western India.

Shell has also signed a supply agreement with Total to buy 0.5 million mt/year of LNG over five years on a delivered basis for India and neighboring countries.

The deliveries would be sourced from Total's global LNG portfolio and begin in 2019, Total said in a separate statement.

"This deal enables Total to capture value through an asset disposal, while the LNG sales contract allows us to maintain the balance of our LNG portfolio," Total's President for Gas, Renewables and Power Philippe Sauquet said.

"We remain committed to supplying the Indian subcontinent, which is a key market experiencing strong growth in LNG demand," Sauquet said in the statement.

India aims to raise the share of gas in the overall energy mix to 15% in five years from the current level of 6.5%.

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Earlier:

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2018, August, 10, 10:10:00

INDIA'S GROWTH 7.3%

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 INDIA VS CHINA POPULATION
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 RUSSIAN LNG FOR INDIA
2018, April, 13, 17:40:00

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 INDIA NEED LNG
2018, February, 9, 10:50:00

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REUTERS - India’s push to more than double the share natural gas has in its energy mix to 15 percent by 2022 will require a huge increase in imports and the construction of more LNG terminals, a government official said on Wednesday.

 JAPAN - INDIAN LNG
2017, October, 13, 12:45:00

JAPAN - INDIAN LNG

India will work with Japan to make long-term liquefied natural gas (LNG) import deals more affordable for its price-sensitive consumers, it said on Wednesday, as these two big importers try to secure better prices and concessions from suppliers.

 INDIA'S ENERGY TRANSFORMATION
2017, April, 10, 18:45:00

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Peak electricity demand has grown nearly 13% over the past two years as a growing middle class seeks new services, such as air conditioning, which continue to place higher demands on the system. Over the next 25 years, energy demand is expected to more than double as a result.

 INDIA'S LNG DOWN 3%
2017, January, 23, 18:45:00

INDIA'S LNG DOWN 3%

India’s double-digit LNG import growth took a breather in the month of December, falling 2.9% on year, according to oil ministry’s Petroleum Planning and Analysis Cell.

 

 

 

 

Tags: SHELL, TOTAL, HAZIRA, LNG, INDIA