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Shell withdraws from Kakinada gas project

Ayan PramanikApril 3, 2017

European oil and gas company Royal Dutch Shell has decided to discontinue its earlier proposal for a floating liquefied natural gas (LNG) import terminal off the Kakinada coast in Andhra Pradesh. The company said ample research had showed lack of adequate demand for liquid gas. “We have put a pause on that project. We worked closely with our partners and engineers and took it to the point where our engineering work was done and we were ready to go. We looked around (but) there was not enough demand. We cannot just spend hundreds of millions and do nothing. So, life …

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(Bengaluru newsroom)

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Shell withdraws from Kakinada gas project

India Infoline News Service | Mumbai | April 03, 2017 11:36 IST

Royal Dutch Shell, a European oil and gas company, has decided to discontinue its earlier proposal for a floating liquefied natural gas (LNG) import terminal off the Kakinada coast in Andhra Pradesh.

Royal Dutch Shell, a European oil and gas company, has decided to discontinue its earlier proposal for a floating liquefied natural gas (LNG) import terminal off the Kakinada coast in Andhra Pradesh. 

Ample research demonstrated a lack of adequate demand for liquid gas, according to the company. 

Nitin Prasad, chairman of Shell in India, said that they have paused the project as there was not enough demand. He also added that they worked closely with their partners and engineers and took the project to the point that the engineering work was done and they were ready to move forward. 

Exploration activity was envisioned by this project and such type of activity would cost the company a significant amount, he concluded while speaking to a leading English daily. 

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