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    Indian State of Andhra Pradesh Inducts Shell in Special Purpose Vehicle for FSRU

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Summary

Andhra Pradesh has decided to induct Shell with 26 percent equity in the proposed Special Purpose Vehicle (SPV) for setting up of a floating, storage and re-gasification (FSRU)-based LNG terminal in Kakinada.

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Indian State of Andhra Pradesh Inducts Shell in Special Purpose Vehicle for FSRU

Cabinet of government of eastern Indian state of Andhra Pradesh has decided to induct Shell with 26 percent equity in the proposed Special Purpose Vehicle (SPV) for setting up of a floating, storage and re-gasification (FSRU)-based LNG terminal in Kakinada, according to Indo-Asian News Service (IANS).

The SPV was formed last year between Andhra Pradesh Gas Distribution Corporation (APGDC) Limited and GDF Suez LNG UK Limited.

A memorandum of understanding was signed in May last year between Kakinada Seaports Limited and APGDC, a joint venture of Gail Gas Limited and AP Gas Infrastructure Corporation for the project.

The FRSU will have capacity of 3.5 mmtpa (million metric tonne per annum) and will go up to 5 mmtpa when the land terminal is set up, IANS adds. It will be able to support about 2500 Megawatt of power generation.

 

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