Shell Sells Minority Stake in Queensland Curtis LNG Facilities for $2.5 Billion

December 21, 2020 Stu Turley Finance, International News, LNG, M & A
Queensland Curtis LNG -QCLNG - EnergyNewsBeat.com

Shell said on Dec. 21 it has agreed to sell a 26.25% stake in its Queensland Curtis LNG (QCLNG) facilities to Global Infrastructure Partners Australia for $2.5 billion, helping the oil major meet its annual target for divestments.

Shell, advised by Rothschild & Co., put a minority stake in the asset up for sale earlier this year, after infrastructure investors expressed interest in the asset which has a guaranteed earnings stream for 15 years.

The sale price was in line with analysts’ expectations.

finviz dynamic chart for RDS.A

“This decision is consistent with Shell’s strategy of selling non-core assets in order to further high-grade and simplify Shell’s portfolio,” the company said in a statement.

Shell is aiming to raise $4 billion a year from asset sales. The sale to Global Infrastructure Partners puts it on target for this year, following the divestment of its Martinez refinery and Appalachia shale gas assets.

The QCLNG plant is majority owned by Shell, with minority stakes owned by China National Offshore Oil Corp. and Tokyo Gas Co.

For the rest of the story: Hart

About Stu Turley 3379 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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