Shell works on pan-India gas business
Royal Dutch Shell has completed the acquisition of Hazira LNG and Port Ventures in Gujarat from France’s Total Gaz Electricite Holdings.
The Anglo-Dutch Group’s subsidiary Shell Gas acquired 26% equity interest from Total, the financial consideration of which was not disclosed.
The acquisition allows Shell to build an integrated gas value chain, supplying from its global LNG portfolio and carry out regasification at Hazira for the Indian market, Shell said on 9 Jan 2019.
Shell held a majority 74% of the complex and had announced plan to buy out Total’s stake.
Shell invested in Hazira 15 years ago, making it one of the first LNG terminals and service points in India.
With 100% ownership of the complex, Shell would be able to utilize the infrastructure to its full potential, said Shell Energy Asia Vice President Ajay Shah.
Shell Energy India was established in 2017 to build a pan-India gas business, supported by the Anglo-Dutch Group’s global gas network.
The Hazira Terminal includes a liquefied natural gas (LNG) storage and re-gasification terminal within a fully functional port.
The Rs.3,000 crore Hazira LNG Terminal and Port facilities, in Surat district of Gujarat, is regarded as a key foreign direct investment (FDI) project and represents one of the largest international investments in India in the energy sector.
The Hazira (Surat) Port is designed as a deep-water, all-weather and direct-berthing port. It is situated in the State of Gujarat on the West Coast of India, about 25 km from Surat city and about 120 nautical miles north of Mumbai.
The port is built with a protected harbour design, with additional waterfront for development of non-LNG cargo handling terminals.
Hazira (Surat) Port has an approach channel of about 1000m, turning radius of 600 m and dredged draft of 12.5 m with a capacity to accommodate larger vessels using tidal variance.
The Hazira (Surat) Port is planned as a ‘Gateway Port’ to serve the hinterlands of North, West & Central India where the container traffic is expected to grow exponentially.
The Hazira (Surat) Port also falls close to the planned Delhi Mumbai Industrial Corridor (DMIC) and the high-speed dual carriageway constructed under the Golden Quadrilateral Project. fiinews.com