 "Shell in talks to buy 24% stake in LNG project in Andhra")
Global energy major Royal Dutch Shell is in talks with the Andhra Pradesh government for buying up to 24% stake in the planned Kakinada liquefied natural gas project on the east coast, GAIL chairman B C Tripathi said on Monday.
"Shell is in talks with the Andhra Pradesh government for a stake in the project. Up to 24% is available," he told reporters.
GAIL Gas, a subsidiary of GAIL (India) , is a co-promoter of Andhra Pradesh Gas Distribution Company (APGDC) that will build the project in the state.
APGDC will have a 50% stake and Gaz de France 26% share in the project, leaving the remainder for the new partner.