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Shell said on Monday it had agreed to sell its 26.
25 per cent stake in the Queensland Curtis LNG (QCLNG) facility to Australian buyer Global Infrastructure Partners Australia for $2.
5 billion to help the oil giant meet its annual divestment target
.
After Global Infrastructure Partners Australia expressed interest in the asset, Shell, on the advice of Rothschild & Co, sold a minority stake in the asset, which guarantees gains for 15 years
, earlier this year.
The sale price was also in line with analysts' expectations
.
Shell said in a statement: "This decision is consistent with Shell's strategy to sell non-core assets to further enhance professionalism and simplify Shell's portfolio
.
”
Shell aims to raise $4 billion
a year through asset sales.
After selling its Martinez refinery Martinez and Appalachia shale gas assets, the sale to Global Infrastructure Partners has completed its divestiture targets
for this year.
The QCLNG facility is controlled by Shell, with minority ownership
by China National Offshore Oil Corporation and Tokyo Natural Gas Company.
Shell's remaining 73.
75% stake in the general facility is in line with its stake in QCLNG as a whole, which produces 8.
5 million tonnes of LNG annually, mainly exported to China and Japan
.
Shell said on Monday it had agreed to sell its 26.
25 per cent stake in the Queensland Curtis LNG (QCLNG) facility to Australian buyer Global Infrastructure Partners Australia for $2.
5 billion to help the oil giant meet its annual divestment target
.
After Global Infrastructure Partners Australia expressed interest in the asset, Shell, on the advice of Rothschild & Co, sold a minority stake in the asset, which guarantees gains for 15 years
, earlier this year.
The sale price was also in line with analysts' expectations
.
Shell said in a statement: "This decision is consistent with Shell's strategy to sell non-core assets to further enhance professionalism and simplify Shell's portfolio
.
”
Shell aims to raise $4 billion
a year through asset sales.
After selling its Martinez refinery Martinez and Appalachia shale gas assets, the sale to Global Infrastructure Partners has completed its divestiture targets
for this year.
The QCLNG facility is controlled by Shell, with minority ownership
by China National Offshore Oil Corporation and Tokyo Natural Gas Company.
Shell's remaining 73.
75% stake in the general facility is in line with its stake in QCLNG as a whole, which produces 8.
5 million tonnes of LNG annually, mainly exported to China and Japan
.
