Hyderabad : Andhra Pradesh government has approved a proposal for offering 26 per cent stake to Europe’s largest oil company Royal Dutch Shell in a gas project at Kakinada.

The AP government-owned AP Gas Infrastructure Corporation (APGIC) and state-owned GAIL floated AP Gas Distribution Company (APGDC) have set up a 3.5 million tonnes capacity (expandable up to 10 million tonnes) Floating LNG Storage Regasification Unit (FSRU) in the East Coast at Kakinada Deepwater Port.

 The order also said the JV would benefit from the participation of Shell and that Shell would add overall financial market value to the proposed FSRU Project.

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