Shell Completes Stake Buy in India Terminal

Anglo-Dutch major Shell has completed the acquisition of 26% equity interest in the Hazira LNG and Port venture in India from French Total, it said January 9 without disclosing the value of the deal.

This acquisition brings Shell’s equity interest in the venture to 100%. The deal was originally announced in late August 2018. Total had picked up the 26% stake in March 2004. 

“The move allows Shell to build an integrated gas value chain: supply from its global LNG portfolio, regasification at the Hazira facility, and downstream customer sales. It further enables Shell to contribute towards India’s long-term need for more and cleaner energy solutions,” the company said. “Having commercial and operational flexibility over Hazira will further enable Shell to offer better customer value propositions and build a pan-India gas business.”

Hazira LNG and Port comprises two companies: Hazira LNG operates the 5mn mt/yr LNG regasification terminal in the western Indian state of Gujarat while Hazira Port manages a direct berthing multi-cargo port at Hazira. 

“Fifteen years ago, Shell invested in the Hazira project – the single largest foreign direct investment for India in the energy sector at the time. I am very proud that as a 100% shareholder, we will now be able to utilise this great infrastructure asset to its full potential and help provide much needed gas to serve the growing energy needs of India,” said Ajay Shah, vice president Shell Energy Asia.