Shell to get 26% equity in Kakinada LNG project.

The Andhra Pradesh government has decided to induct global oil major Shell with a 26 per cent equity in the proposed special purpose vehicle (SPV) for setting up a floating, storage and re-gasification unit (FSRU) for liquefied natural gas at Kakinada.

Briefing mediapersons following a Cabinet meeting recently, information and public relations minister, P Raghunatha Reddy, said it had also been decided to source 2,000-MW power, augment the available coal stocks and set up a solar park in Anantapur district.

The SPV for the Rs. 3,600-crore LNG terminal was formed last year between AP Gas Distribution Corporation (APGDC) Limited and GDF Suez LNG UK Limited. It would be able to provide fuel for generation of 2,500-MW power.



BS