Total to Buy 26% of Shell LNG

Royal Dutch Shell, the largest private LNG supplier in the world, has announced that Total Gaz Electricite Holdings of France will take a 26 per cent share in the $ 600 million Hazira LNG project.

The Indian project will continue to have Shell as the majority owner and operator.

According to a statement issued by Shell, Total will take a 26 per cent shareholding in each of the three companies that comprise the project - Shell Hazira Gas Private Limited, Hazira LNG Private Limited and Hazira Port Private Limited - subject to the approval of required State and government agencies. Describing the Hazira project as among the largest greenfield foreign direct investments in the energy sector, the company declined to disclose the value and terms of the deal.

With an estimated investment of over $ 600 million, the project includes a port and LNG terminal together with infrastructure with a capacity of five million tonnes of LNG per annum - and initial throughput of 2.5 million tonnes, rising to ten million tonnes.