Royal Dutch Shell to buy out Total in Hazira LNG terminal
Hazira LNG & Port venture comprises two companies Hazira LNG that operates an LNG regasification terminal in Gujarat.
August 27, 2018 / 04:51 PM IST
Royal Dutch Shell | Headquarters: The Hague, Netherlands. Incorporated in the United Kingdom. (Photo: Reuters)
Royal Dutch Shell today said it will acquire French oil major Total SA's 26 per cent stake in the company that operates 5 MTPA Hazira LNG terminal in Gujarat. The size of the deal was however not disclosed.
"Shell Gas BV, a subsidiary of Royal Dutch Shell plc, has signed a binding Letter of Intent (LoI) with Total Gaz Electricité Holdings France to acquire its 26 per cent equity in the Hazira LNG and Port venture in India, subject to regulatory approvals,"it said in a statement.
Hazira LNG & Port venture comprises two companies Hazira LNG that operates an LNG regasification terminal in Gujarat and Hazira Port, which manages a direct berthing multi-cargo port at Hazira.