Royal Dutch Shell may acquire stake in Kakinada LNG project

Royal Dutch Shell (RDS.A, RDS.B) reportedly is in talks with the Andhra Pradesh state government in India to buy up to a 24% stake in the planned Kakinada liquefied natural gas project on the east coast.

The import terminal would have a 3.5M-5M metric tons/year capacity and will be used to cater to gas demand in Andhra Pradesh and neighboring states; Shell already operates a 5M metric ton LNG import facility at Hazira in Gujarat.

Andhra Pradesh Gas is building the project and will hold 50% stake, while Gaz de France will own a 26% stake.

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