Shell bets big on growth in India
The $300 billion global energy major, Royal Dutch Shell said on Monday that it sees India as an important growth partner and is working on plans to further increase its investments in the country. Anupama Airy reports.business Updated: Oct 31, 2011 21:08 IST
The $300 billion global energy major, Royal Dutch Shell said on Monday that it sees India as an important growth partner and is working on plans to further increase its investments in the country.
“For Shell, India is a very important country,” CEO of Royal Dutch Shell, Peter Voser told Hindustan Times on the sidelines of the Singapore International Energy Week.
Voser said that Shell, which has already invested over $1 billion in India, is “clearly focussed at bringing further gas supplies into India” and was also open to signing long term deals to supply Liquified Natural Gas (LNG).
“As a green fuel with low carbon, LNG is right fuel for power generation in India,” he said.
Voser said Shell was also open to increasing its presence in fuel retailing in India.
“We are the only international company with a fuel marketing licence. So we have consumer focus interests in India and the pace will depend on the Indian government’s fuel policies,” he said.
Voser was positive on policy changes. “I have seen very positive signs in this direction and am pleased with pace at which we are growing in India,” he said.
Shell Retail has presence in six states — Gujarat, Andhra Pradesh, Maharashtra, Karnataka, Tamil Nadu and Assam. It is keen to expand its presence and offer its international quality fuels, Voser said.
He said Shell is also evaluating opportunities in the Indian upstream sector, though it has no exposure in India in this area at present.
(The writer’s travel and stay were sponsored by the Energy Market Authority of Singapore)