UK-based LNG giant Shell has completed its previously announced acquisition of Canadian gas producer ARC Resources for $16.5 billion, including debt, after receiving all required shareholder, court, and regulatory approvals.
Egypt, which has turned to LNG imports over the last two years to cover domestic natural gas shortages, will receive more much-needed gas supplies after UK-based LNG giant Shell and its partners took a final investment decision on the Phase 12a development project in the West Delta Deep Marine (WDDM) concession.