European energy giants Shell and Engie have pulled out of the proposed floating storage and regasification units (FSRU)-based LNG-import project at Kakinada in southeast India.
Reports in the Indian media attribute the decision to concerns about demand for imported gas in India. Shell and Engie wanted the Indian partner to guarantee a minimum volume on which to base their final investment decision.
The project may go ahead without the two multinationals. State-owned gas utility GAIL India is meeting the state government of Andhra Pradesh to find ways to restructure the project. Read More..
Credit By: LNG World Shipping
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