Shell sells all its remaining Shareholding in Mahanagar Gas Limited
Aug 20, 2019
New Delhi: Shell today announced that its wholly owned subsidiary, BG Asia Pacific Holdings Pte Ltd (BGAPH) has sold all its remaining shareholding in the publicly listed Mahanagar Gas Limited (MGL).
This is part of Shell’s ongoing portfolio optimization to transform Shell into a simpler company, delivering stronger returns.
This announcement has no impact on other Shell businesses in India.
Shell believes that India offers a vast opportunity for growth for Shell’s businesses and we will continue to pursue opportunities which can enhance Shell’s footprint in the country. We believe in the key role that gas will play in India and will continue to seek opportunities in that arena. Shell looks forward to playing its part in the energy transition in India.
Notes to Editors:
MGL is one of the largest City Gas Distribution in India with sole authorisation to distribute compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, its Adjoining Areas and the Raigad district in the state of Maharashtra, India. Shell has sold all its shareholding in MGL and has now exited the company.
About Shell in India
Shell is one of the most diversified international energy company in India with over 8500 employees and presence across upstream, integrated gas, downstream, renewable energy, and deep capabilities in R&D, digitalization and business operations. With a retail presence across six states – Karnataka, Tamil Nadu, Telangana, Maharashtra, Gujarat and Assam Shell is expanding its network of fuel stations across the country. It has the entire Lubricants end-to-end value chain in India, from conceptualization and development, to production and distribution. This includes a world class lubricant oil blending plant with a capacity of more than 115 million litres, a distributor network of more than 185 and over 60,000 retailers across the country. The company also fully owns and operates an 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. With a focus on digitization and future ready sustainable solutions, the company is nurturing a vibrant ecosystem in India to accelerate energy innovations with Shell E4 for startups, Shell Eco-marathon and investments in new energy companies like Husk Power and Cleantech Solar. Shell also remains committed to making positive contributions to the communities in which it operates through programmes like NXplorers, Access to Energy and Road Safety across India. Follow @shell_India @makethefuture @shell_ecomar to know how it is redefining the energy space.
Royal Dutch Shell plc
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