Shell India to invest $1 billion in floating LNG terminal
12 Feb 2013
Shell India, the Indian arm of Anglo-Dutch oil giant Royal Dutch Shell, is planning to build a floating liquefied natural gas (LNG) terminal in India, with investment of around $1 billion, to take advantage of the country's rising energy demand.
Shell India proposes to build the floating LNG terminal off the Kakinada coast in Andhra Pradesh as a joint venture with Anil Ambani Group firm Reliance Power.
The floating LNG terminal is expected to be commissioned by 2014.
Shell currently operates a 3.6 million tonne LNG import facility at Hazira in Gujarat.
''By end of the quarter, we will be able to import 5 million tonnes at Hazira,'' Shell India head Yasmine Hilton said, adding that capacity at the floating LNG terminal could also be doubled, if needed.
Shell India, she said, is also evaluating opportunities to enter upstream oil and gas exploration and production in India.