Wait...
  1. Home >
  2. Export Import News >
  3. Import Business News >
  4. Shell buys Total out of Hazira in quest of bigger India LNG market pie >
  5. Shell buys Total out of Hazira in quest of bigger India LNG market pie

Online Export Import Data Search

Complete Training Video : Click Here

Shell buys Total out of Hazira in quest of bigger India LNG market pie.


Date: 10-01-2019
Subject: Shell buys Total out of Hazira in quest of bigger India LNG market pie
NEW DELHI: Royal Dutch Shell  on Wednesday said it has acquired French oil major Total SA's 26% stake in the venture for importing gas in ships at Gujarat’s , a move many see as the green shoot of consolidation in the expanding Indian gas market.

The completion of the acquisition, which was first announced in August last year, raises Shell’s ownership in the venture to 100%,” the company said without giving details of the deal size.The Hazira project has an LNG ) terminal with a capacity to handle 5 million tonne of gas per year and an associated port. Hazira LNG operates the LNG regassification terminal and  manages the direct-berthing multi-cargo port.

Total’s exit from the Shell venture and its recent tie-up with the Gujarat-based edible oils-to-infrastructure and energy giant Adani group for LNG project and gas/fuel retail business makes the deal with Shell as the first consolidation in the market, sparked by India’ expanding gas market and hopes of pricing reforms.The government is driving hard to raise the share of clean-burning natural gas in the energy basket from 6 to 15% in the next few years by expanding city gas projects and converting public transport in ever-increasing number of cities. Several LNG import projects are currently at varying stages of implementation to meet this demand.With 100% ownership in the Hazira project, Shell hopes to build a gas value chain for Indian consumers by sourcing LNG from its global LNG portfolio at competitive rates, regassifying it at the Hazira facility and marketing it. “It further enables Shell to contribute towards India's long-term need for more and cleaner energy solutions,” the company said.
Total is keen on investing in the fast-growing gas market in India and finds Adani a suitable partner due to its presence in city gas and LNG projects. Adani holds 25% stake in the 5 million a year LNG terminal at Mundra and is building a similar capacity terminal at Dhamra in Odisha at a cost of Rs 5,100 crore.Shell’s Hazira project, constructed 15 years back with a capacity of 2.5 million tonne LNG that was later expanded to 5 million tonne, was India’s single-largest energy FDI at the time for India. Total had, in March 2004 picked up the 26% stake.

Source: timesofindia.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 15-03-2019
Notification No. 22/2019- Customs (N.T.)
Amendment to the Notification No. 63/1994-Customs (N.T) dated 21st November, 1994, by notifying Dera Baba Nanak LCS

Date: 15-03-2019
Notification No.23/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

Date: 15-03-2019
Notification No. 07/2019 - Customs
Seeks to amend notification No. 152/2009-Customs dated 31.12.2009 so as to grant tariff concession in respect of goods under tariff sub heading 4809 90 imported from Korea RP under the India-Korea Comprehensive Economic Partnership Agreement (CEPA).

Date: 14-03-2019
Notification No. 13 /2019-Customs (ADD)
Seeks to prescribe provisional assessment for 'Saturated Fatty Alcohols' when originating in or exported from subject countries by M/s PT. Energi Sejahtera Mas (producer) Indonesia through M/s Sinarmas Cespa Pte Ltd (exporter/trader) Singapore and imported into India.

Date: 12-03-2019
Notification No. 8/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Notification No. 9/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Notification No. 10/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Notification No. 11/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Notification No. 12/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Circular No. 10/ 2019-Customs
Scheme for Rebate of State and Central taxes and Levies on export of garments and made-ups (RoSCTL)



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001