Total to exit from Hazira LNG venture; to sell 26% stake to Shell

Total's full exit will allow Shell commercial and operational flexibility over Hazira to maximise integrated value and offer creative customer value propositions

International oil & gas company Total will fully exit from its Hazira Liquified natural gas (LNG) venture, through a sale of its 26% stake to Shell, its partner for the venture.

“Shell Gas B.V., a subsidiary of Royal Dutch Shell plc (“Shell”), announced on Monday that it has signed a binding Letter of Intent (LoI) with Total Gaz Electricité Holdings France (“Total”) to acquire its 26% equity in the Hazira LNG and Port venture in India, subject to regulatory approvals,” Shell said in a press statement on Monday. Shell already holds 74% interest in the project.

The Hazira LNG and