Royal Dutch Shell and GDF Suez are looking into a 52% stake buy in Gail’s proposed FLNG terminal at Kakinada in Andhra Pradesh.
Both companies would hold a 26% stake each with the Andhra Pradesh Gas Distribution Corp holding the remaining 48%, reports the Press Trust of India. APGDC is a joint venture set up by Gail and Andhra Pradesh Gas Infrastructure Corporation.
The deal should be signed within the next few days, the report shows.
According to sources, Andhra Pradesh government is looking to speed up the start of work to set up the 3.5 mtpa FSRU off Kakinada’s coast.
At the same time, this would mean that Petronet LNG will have to postpone its plans for the 5 mtpa LNG import terminal at Gangavaram.
Sources also reveal that the commissioning of the FSRU is planned in the next two years.