The Hindu Business Line : Shell yet to find partner for Hazira LNG terminal

NEW DELHI: Mr Vikram Singh Mehta, Chairman, Shell Group of Companies in India, indicated that players in the industry have shown keen interest for acquiring stake in its Hazira liquefied natural gas (LNG) terminal in Gujarat.

He, however, refrained from disclosing the names of the players. Speaking at the sidelines of the conference, Mr Mehta reiterated that from day one Shell has been maintaining that it was open to others joining the project, thus, this move was not something new.

Hindustan Petroleum Corporation and ONGC have been envisaging keen interest for participating in the project. HPCL had indicated that it was looking at acquiring a 25-per cent stake in the terminal.

Shell had started marketing LNG from the Hazira terminal earlier this year, but has so far found few takers on account of the high price. The terminal has a capacity of 2.5 million tonnes per annum, but is now being under-utilised because of lack of customers.

On the other hand, according to reports, ONGC was looking at a complete buyout of the LNG terminal. In Shell Hazira Gas Pvt Ltd apart from Shell, Total of France holds a 26 per cent stake in the company.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

More Stories on : Alliances & Joint Ventures

Stories in this Section
SAIL to pump in Rs 348 cr to modernise Rourkela Steel

Nestle India to pay second interim of Rs 18 per share

Maruti to recall 2,200 Versas

Suzlon bags China, Korea orders

Ramky group bags orders for industrial parks in several States

Carraro group to start production at Turbo Gears

MSC Power to set up solar-wind plant near Pune

Nagarjuna Construction bags National Games contract

36 firms sought RBI nod in Oct to raise overseas funds

ABB India bags Helen Keller Award