Total Sells Equity in India’s Hazira Terminal and Signs LNG Sales Agreement with Shell

Total Sells Equity in India’s Hazira Terminal and Signs LNG Sales Agreement with Shell

Total Sells Equity in India’s Hazira Terminal and Signs LNG Sales Agreement with Shell

The FINANCIAL --  Total has signed a binding Letter of Intent (LOI) with Shell for the sale of its 26% minority equity stake in Hazira LNG regasification terminal in India.

The transaction remains subject to the approval of regulatory authorities.

In parallel, Total has signed an agreement to sell 0.5 million tons of liquefied natural gas (LNG) per year to Shell over 5 years, on a delivery basis to supply the markets of India and neighboring countries. The deliveries will be sourced from Total’s global LNG portfolio and are expected to begin in 2019.