Shell closes Hazira deal as India launches bid round

India

NEW DELHI, January 9, 2019 – Shell has closed its acquisition of Total’s 26% stake in the Hazira LNG storage and regasification terminal in India for an undisclosed amount, local media reported on Wednesday.

The project is now fully owned by Shell.

“The move allows Shell to build an integrated gas value chain: supply from its global LNG portfolio, regasification at the Hazira facility, and downstream customer sales. It further enables Shell to contribute towards India’s long-term need for more and cleaner energy solutions,” the super-major said in a statement cited by daily The Economic Times.

The news came shortly after India announced the second Open Acreage Licensing round, in which 14 exploration blocks, including eight onshore licences and six offshore licences, will be put on auction.