Shell wraps up QCLNG stake sale

Shell said on Monday it completed the previously announced stake sale in its Queensland Curtis LNG export plant to a unit of Global Infrastructure Partners, following the receipt of regulatory approval.

To remind, Shell revealed the $2.5 billion stake sale in December last year to Global Infrastructure Partners Australia, a unit of the US-based independent investment fund.

Shell now owns 80% of the QCLNG common facilities that include storage tanks, jetties and operations infrastructure that service the plant’s two trains.

In addition, the deal has no impact on the ownership structure and the LNG giant remains majority owner and operator of the facilities.

The Hague-based firm also has partners in the 8.5 mtpa plant. These include China’s CNOOC that owns 50% equity in Train 1 and Japan’s Tokyo Gas that has 2.5% equity in Train 2.

Shell says the deal is consistent with its strategy of selling non-core assets in order to “further high-grade and simplify the company’s portfolio.”

“The sale will contribute to Shell’s expected divestment proceeds, without impact on people or the operations of the QCLNG venture,” it said.

Most Popular

Another steam LNG carrier sold for demolition

An NYK-managed steam liquefied natural gas (LNG) carrier has been sold for demolition, according to brokers.

NFE seals Puerto Rico LNG supply deal

NFE said in a statement that the contract is currently under review for approval by the Financial Oversight and...

Canada approves Ksi Lisims LNG project

According to a statement on Monday, Julie Dabrusin, Minister of Environment and Climate Change, issued her decision under the...

More News Like This

Shell continues to expand its LNG bunkering network

UK-based LNG giant Shell continues to expand its liquefied natural gas bunkering business with a new location in Europe.

Shell’s LNG Canada expansion project to get boost from government

Canadian Prime Minister Mark Carney named the planned second phase of Shell's LNG Canada export project as one of the major projects the federal government would help fast-track.

Shell seals Hungarian gas supply deal

UK-based LNG giant Shell has signed a deal with Hungarian gas trader MVM CEEnergy to supply the latter with natural gas for 10 years.

Shell, Hapag-Lloyd seal bio-LNG bunkering deal

A unit of UK-based LNG giant Shell has signed a deal with Germany's Hapag-Lloyd to supply the latter's dual-fuel container vessels with bio-LNG.