The Financial Express (India): Shell plans to launch Hazira terminal by March: “Oil major Shell plans to operationalise its LNG import terminal and all weather port at Hazira by March this year.” (ShellNews.net) 20 Jan 05
Posted online: Thursday, January 20, 2005
NEW DELHI, JAN 19: Oil major Shell plans to operationalise its LNG import terminal and all weather port at Hazira by March this year.
“Five million tonne per annum capacity project when completed is expected to meet one-third of the India’s annual gas demand, the chairman of the Shell Group of companies, Vikram Singh Mehta said here.
Mr Mehta said, “Rs 2000 crore, Hazira LNG regasification project is the largest greenfield investment by the company in India”.
The move assumes significance as the traditional model for gas import calls for long-term contracts, generally 20 years or more with rigid contractual terms.
However, Shell’s Hazira terminal will be tailored to meet specific credit requirements of Indian customers and can handle long as well as short-term contracts. The company has inducted Total Gas Electicite as a 26% equity partner in the terminal project.“All the projects have surplus LNG and we can import this for Hazira” he said.
Hazira port which is being developed as an important part of the project, is a deep-water all weather, multi-cargo port. Besides this, the company has plans to commence marketing of transportation of fuel through its 2000 retail outlets from this year. Its first outlet has already started operation in Bangalore last year, he said.
The company also has interests in lubricants, petrochemicals and solar energy and has invested $850 million. Shell has equity in Malaysia and Australia.