According to the statement, this brings Shell’s equity interest in the venture to 100%.
This move enables Shell to develop an integrated gas value chain: supply from its global LNG portfolio; regasification at the Hazira facility; and downstream customer sales. In addition to this, it allows the company to contribute to India’s long-term requirement 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. According to the statement, having flexibility (both commercially and operationally) over Hazira will allow Shell to offer improved customer value propositions and construct a pan-India gas business.
Ajay Shah, Vice President Shell Energy Asia, said: “15 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.”
Read the article online at: https://www.lngindustry.com/regasification/09012019/shell-acquires-100-equity-in-hazira-lng/
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