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French oil giant Total is selling its 26 percent minority stake in India's Hazira LNG regasification terminal to an undisclosed buyer at an undisclosed price, subject to regulatory approval
.
In addition, Total has signed an agreement to sell 500,000 tonnes of LNG to Shell every year over the next five years to meet the needs of the Indian and neighbouring countries
.
It is reported that the LNG delivery to Shell will come from Total's global LNG portfolio, which is expected to start
in 2019.
"This transaction enables Total to capture value through optimized asset disposals, while the LNG sales contract allows us to maintain a balanced LNG portfolio," said Philippe Sauquet, President, Total's Gas, Renewables and Power business.
”
French oil giant Total is selling its 26 percent minority stake in India's Hazira LNG regasification terminal to an undisclosed buyer at an undisclosed price, subject to regulatory approval
.
In addition, Total has signed an agreement to sell 500,000 tonnes of LNG to Shell every year over the next five years to meet the needs of the Indian and neighbouring countries
.
It is reported that the LNG delivery to Shell will come from Total's global LNG portfolio, which is expected to start
in 2019.
"This transaction enables Total to capture value through optimized asset disposals, while the LNG sales contract allows us to maintain a balanced LNG portfolio," said Philippe Sauquet, President, Total's Gas, Renewables and Power business.
”
