Total S.A.
4 March 2004
Total takes a 26% stake In the Indian LNG
Re-gasification terminal of Hazira
Paris, March 4, 2004 - Total announces that it has signed an agreement with
Shell Gas BV, a member of the Royal Dutch/Shell group of companies, to acquire a
26% stake in a liquefied natural gas (LNG) re-gasification terminal project in
India. The terminal is expected to receive its first LNG cargo by year's end and
is located in Hazira, on the north-west coast of India in the Gujarat State. The
transaction remains subject to approval of the relevant Indian authorities.
Once the transaction is completed, Total will hold a 26% interest in the three
project companies: the port company is in charge of the construction and
operation of the port under a 30 year concession; the terminal company builds
and will operate the terminal; the marketing company will sell the gas. The
terminal will have an initial capacity of 2.5 millions tons per annum with a
goal to expand it to 5 millions tons. Supplied by the two partners from their
various LNG sources, Hazira will be the first merchant LNG terminal in Asia.
With this stake in a re-gasification terminal in Asia, Total strengthens its
development on gas markets and secures an access to a fast growing market for
the LNG projects in which it participates.
Total is already a major LNG player, commercialising more than 6 millions tonnes
in 2003. The company holds stakes in 5 natural gas liquefaction plants
worldwide, a stake in a re-gasification terminal in Mexico and has signed a
protocol of intent to acquire an interest in the Fos Cavaou re-gasification
terminal in France.
Total is the fourth largest oil and gas company in the world with operations in
more than 130 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals
through its chemicals branch, Atofina. Total has 121,500 employees worldwide.
More information can be found on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
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