French oil giant Total will take 26 per cent stake in Royal Dutch/Shell's $600 million Hazira liquefied natural gas import project in Gujarat.
Royal/Dutch Shell on Friday said its $600 million liquefied natural gas import and regassification terminal at Hazira will be commissioned in the second half of 2004 and hoped to make available gas at very competitive price by the year end.
Royal Dutch/Shell, world's third largest oil and gas firm, on Thursday said its $600-mn Hazira liquefied natural gas import terminal in Gujarat was fully operational and the company had no plans to sell it off.\n\n
The government on Friday said companies wanting to import liquefied natural gas will have to use Indian-flagged vessels - a stipulation which may further delay commissioning of Royal Dutch/Shell's Hazira terminal in Gujarat.
Royal Dutch/Shell on Tuesday said it plans to invest Rs 3,000 crore (Rs 30 billion) in setting up a bulk cargo and container terminal at Hazira port, where it has built an LNG receiving terminal.
The companies are in talks with Shell, Petronet LNG to book capacity
For long, the Gujarat government has been hard-selling the sea of business opportunities that its 1,600-km long coastline offers.
State-run Hindustan Petroleum Corporation Ltd on Wednesday said it was in advanced stages of talks with Shell India for picking up stake in its Hazira LNG terminal in Gujarat and a deal was possible this fiscal.
Shell had last imported LNG cargo at its Hazira Terminal in Gujarat on Oct 13, 2008 from Trinidad and Tobago at $20.5 per mmbtu. On the $9.06 per mmBtu import price, a five per cent custom duty will be levied, taking the landed cost to $9.4 per mmBtu.
Royal Dutch/Shell will receive the first cargo of liquefied natural gas at its Hazira terminal in Gujarat this month.
The company is building floating LNG terminal in joint venture Reliance Power.
Royal Dutch/Shell may source liquefied natural gas from Oman, Qatar, Malaysia and Australia for sale in India from the first quarter of 2005.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
The migrants demanded that the district administration should arrange for their return to their hometowns in Uttar Pradesh, Bihar, Odisha and other states.
DRDO is offering a 30-35-tonne light tank that it says will be a match for what the army faces -- China's new Type-15 light tank.
With its investor-friendly policies, Gujarat, the state with largest refining capacity, pipeline network and a number of oil and gas discoveries, will soon become the energy hub of the country, Chief Minister Narendra Modi said on Friday.
Cairn Energy of the United Kingdom has again struck oil in Barmer basin of Rajasthan, Petroleum Minister Ram Naik said on Friday.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
India Gas Solutions Pvt Ltd -- the equal joint venture between the Mukesh Ambani-led firm and Europe's second largest oil firm - is among the three companies shortlisted by Gujarat government for giving out 25 per cent stake in the Mundra terminal.
Companies are drawn to the parks by the infrastructure and ready-to-occupy land.
Refining major optimistic on planned investment of $16 bn for expansion and new technology to post healthy margins
India and Japan's effort to form a multilateral group of liquefied natural gas buyers to avoid paying higher prices for the fuel is laudable as an objective but is unlikely to be effective immediately.
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