Total
stake in Indian LNG re-gasification terminal of Hazira
Posted: 4 March 2004
Total announces that it has signed an agreement with Shell Gas
BV, a member of the Royal Dutch/Shell group of companies, to acquire
a 26 per cent stake in a liquefied natural gas (LNG) re-gasification
terminal project in India. The terminal is expected to receive its
first LNG cargo by year's end and is located in Hazira, on the north-west
coast of India in the Gujarat State. The transaction remains subject
to approval of the relevant Indian authorities.
Once the transaction is completed, Total will hold a 26 per cent
interest in the three project companies: the port company is in
charge of the construction and operation of the port under a 30
year concession; the terminal company builds and will operate the
terminal; the marketing company will sell the gas. The terminal
will have an initial capacity of 2.5 millions tons per annum with
a goal to expand it to 5 millions tons. Supplied by the two partners
from their various LNG sources, Hazira will be the first merchant
LNG terminal in Asia.
With this stake in a re-gasification terminal in Asia, Total strengthens
its development on gas markets and secures an access to a fast growing
market for the LNG projects in which it participates.
Total is already a major LNG player, commercialising more than
6 millions tonnes in 2003. The company holds stakes in 5 natural
gas liquefaction plants worldwide, a stake in a re-gasification
terminal in Mexico and has signed a protocol of intent to acquire
an interest in the Fos Cavaou re-gasification terminal in France.
For more information see www.total.com
Posted by Richard Price,
Editor Pipeline Magazine
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