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

Posco International, Glenfarne ink Alaska LNG pact

US energy firm Glenfarne and Posco International, a unit of South Korean steel producer Posco, have signed a deal to advance a strategic partnership for the development of the Alaska LNG project. This includes initial terms for a long-term heads of agreement for LNG supply.

Hudong-Zhonghua gets approvals for new LNG bunkering vessel

Chinese shipbuilder Hudong-Zhonghua has received approvals from five classification societies for a 25,000-cbm LNG bunkering vessel design it jointly developed with French LNG containment specialist GTT.

Monkey Island LNG pens offtake MoU

Houston-based Monkey Island LNG, the developer of a 26 mtpa liquefaction and export facility in Cameron Parish, Louisiana, said it had signed a memorandum of understanding with an unidentified international oil company for the offtake of LNG.

More News Like This

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.

Peru LNG sent four cargoes in August

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped four liquefied natural gas cargoes in August, one less than in the previous month.

YPF CEO expects FIDs on FLNG projects with Eni, Shell in 2026

YPF CEO Horacio Marin confirmed on Wednesday that the state-owned oil and gas company and its partners Eni and Shell expect to take final investment decisions on two stages of the Argentina LNG project in 2026.

Shell pens US LNG supply deal with Edison

UK-based LNG giant Shell has signed a long-term deal to supply US LNG to Italian energy firm Edison, a unit of EDF.