Shell completes deal to acquire 100% equity in Hazira LNG & Port Companies – now set to better serve Indian customers through a fully-owned and integrated Shell gas value chain
Jan 09, 2019
New Delhi: Shell Gas B.V., a subsidiary of Royal Dutch Shell plc (“Shell”), announced today that it has completed acquisition of 26% equity interest in the Hazira LNG and Port venture in India from Total Gaz Electricité Holdings France (“Total”). “This brings Shell’s equity interest in the venture to 100%.
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.
Shell Energy India was established in 2017, to aggregate demand from downstream customers and secure competitive international supply to meet such demand. Having commercial and operational flexibility over Hazira will further enable Shell to offer better customer value propositions and build a pan-India gas business.
“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 utilize 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.
About Shell in India:
Shell is one of the most diversified international energy company in India with over 7000 employees, 200,000 retail customers and a 250 - strong distribution network. It brings world-class energy solutions across traditional, new energies and its derivatives to individuals and enterprises. Shell’s Lubricants business is active across the full lubricant supply chain - manufacturing base oils, blending base oils with additives to make finished lubricants, and distributes, markets and sells lubricants in over 100 countries. Shell’s retail presence in India spans five states – Karnataka, Tamil Nadu, Telangana, Maharashtra and Gujarat. Shell operates a LNG re-gasification terminal at Hazira. Through its subsidiary, BG Exploration and Production India Limited, Shell holds a 30% interest in, and is joint operator of the Panna - Mukta oil and gas fields. India is home to Shell’s world class centres carrying out operations, IT and innovation mandates in Bangalore and Chennai. The company is nurturing a vibrant ecosystem in India to accelerate energy innovations with the Shell E4 programme for startups, and investments in new energy companies like Cleantech Solar, Husk Power. Shell remains committed to making positive contributions to the communities in which we operate through NXplorers, Access to Energy and Road Safety across India. Visit Shell E4 and follow @shell_India to know how we are redefining the energy space.
Note to Editor
Hazira LNG & Port venture comprises two companies; Hazira LNG Pvt Ltd (“HLPL”) that operates a LNG (Liquefied Natural Gas) regasification terminal in the State of Gujarat; and Hazira Port Pvt Ltd (“HPPL”), which manages a direct berthing multi-cargo port at Hazira.
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