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Shell unit completes acquisition of 26% stake in Hazira LNG & Port in India

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Shell unit completes acquisition of 26% stake in Hazira LNG & Port in India

Oil major Royal Dutch Shell PLC said Jan. 9 that subsidiary Shell Gas BV completed the acquisition of a 26% stake in the Hazira LNG and Port venture in India, bringing its total interest in the project to 100%.

The deal to buy the remaining stake from TOTAL SA's Total Gaz Electricité Holdings France was announced Aug. 27, 2018, but financial details were not disclosed.

Hazira LNG & Port comprises two companies: Hazira LNG Pvt. Ltd. and Hazira Port Pvt. Ltd. Hazira LNG operates an LNG regasification terminal in the Indian state of Gujarat, while Hazira Port manages a direct berthing multi-cargo port at Hazira.

Shell said the move will allow it to build an integrated gas value chain to better serve its Indian customers.