Shell Gas has completed the acquisition of a 26% equity interest in the Hazira LNG and port venture from Total Gaz Electricité.
The move brings Shell's equity interest in the venture in India to 100%.
The transaction 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.
Ajay Shah, vice president Shell Energy Asia, says: 'Shell invested in the Hazira project 15 years again and it was the single largest foreign direct investment for Indian 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.
Having commercial and operational flexibility over Hazira will further enable Shell to offer better customer value propositions and help the company build a pan-India gas business.
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