Shell Eyeing Stake in Indian LNG Project

Royal Dutch Shell is negotiating with the government of eastern Indian state of Andhra Pradesh for picking up 24 percent stake in the planned Kakinada LNG project on the state, Reuters quoted GAIL India chairman B.C Tripathi as saying on Monday.

GAIL Gas, a subsidiary of GAIL (India), is a co-promoter of Andhra Pradesh Gas Distribution Company (APGDC) that will build the project in the southern Indian state, states Reuters.

According to the news agency, APGDC will have a 50 percent stake and Gaz de France 26 percent share in the project, leaving the remainder for the new partner.