• 11 hours Getting out of oil .. now
  • 9 hours Too much or doable - $900 Billion Annual Investments Needed In Renewables By 2030
  • 14 hours Surprise! Aramco Scraps International Listing Plans
  • 11 hours U.S. Arrests Iranian Over Alleged $115 Million Sanctions Evasion Scheme Involving Venezuelan Housing Project
  • 18 hours EU Proposes Online Turnover Tax For Big Tech Firms
  • 6 hours Elon Musk’s $2.6 Billion Tesla Challenge
  • 8 hours U.S. Judge To Question Big Oil On Climate Change
  • 11 hours The Facebook/Cambridge Analytica Scandal
  • 17 hours "Rock star of science" - Stephen Hawking, Who unlocked The Secrets Of Space And Time, Dies at 76
  • 17 hours McDonald's Sets Greenhouse Gas Reduction Targets
  • 13 hours Bad seven days for Martin Shkreli
  • 20 hours Step forward or blackmail? DJT: Tariffs On Steel and Aluminum Will Only Come Off If New Fair NAFTA Agreement Is Signed.
  • 1 day 2020 - Electricity From Renewables Will Be Cheaper Than From Most Fossil Fuels?
  • 10 hours Goldman Sachs Expects Tesla to Miss Model 3 Targets Again
  • 12 hours Nuclear Bomb = Nuclear War: Saudi Arabia Will Develop Nuclear Bomb If Iran Does
  • 17 hours Country With Biggest Oil Reserves Biggest Threat to World Economy
Energy Sector Under Threat From Deadly Cyberattacks

Energy Sector Under Threat From Deadly Cyberattacks

Investigators are warning that hackers…

Global Energy Advisory - 16th March 2018

Global Energy Advisory - 16th March 2018

The fight between Alberta and…

Shell to Invest $1 Billion in Floating LNG Plant in India

The US Energy Information Administration has predicted that as India’s economy grows and its demand for energy booms, natural gas will play a far larger role in the generation of that energy. Overall energy demand and consumption is expected to increase by more than 50% by 2035, and natural gas’s share of that will increase from 11 percent in 2008, to 16 percent.

Shell (NYSE: RDS.A) is very well placed to take advantage of this growth in India’s natural gas market, and in preparation Shell India will invest $1 billion to build a floating liquefied natural gas (LNG) plant off the coast of India. The new floating plant will be based at the port of Kakinada in the state of Andhra Pradesh, and will add to the capacity of the 3.6 million ton LNG import facility in Hazira to provide a boost to the amount of LNG that Shell can process in the area.

Hazira will also be expanded, and Yasmine Hilton, the head of Shell India, stated that, “by the end of the quarter, we will be able to import 5 million tons at Hazira.”

Related article: A Carbon Tax may Curb the Rise in Natural Gas Flaring

Further plans exist to boost Hazira’s capacity to 10 million tons within in four years, and there is talks of doubling the Kakinada terminal’s capacity in the coming years.

Hilton has stated that India represents a huge potential for Shell’s gas sector, and the appropriate investments are being pursued in upstream oil and gas exploration and production. The only problem is that Shell India must compete with other departments of Shell from around the world for funding.

“Shell is investing $30 billion in new investments -- 80 percent in upstream and 20 percent in downstream. We (Shell India) have to compete for those dollars with other Shell outfits. My job is to position India to the group and get some of the funding into India.”

By. Joao Peixe of Oilprice.com

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News