Natural Gas Daily: December 21st, 2020
Dec 21, 2020 10:00:pm
Summary
by: NGW
Saudi Aramco s increased involvement in Russian energy projects is under active consideration, Russian deputy prime minister Alexander Novak said in a government statement published on December 20.
Saudi Arabia has expressed interest in investing in key Russian energy projects and companies in recent years, but no deals have been finalised.
Aramco had been eyeing a stake in Novatek s Arctic LNG-2 project but the pair failed to reach an agreement and the Russian company brought on board France s Total and Chinese and Japanese partners instead.
Russia s biggest LNG exporter Novatek announced on December 18 that its board had approved an increase in minimum dividends from 30% to 50% of adjusted net profit, citing the company s strong operating and financial results as justification.
by Adnan Bajic
The Hague-based oil and LNG major Shell has agreed to sell a minority stake in a QCLNG unit for a consideration of $2.5 billion.
Shell said on Monday its QGC Common Facilities has agreed to sell 26.25 per cent in the Queensland Curtis LNG Common Facilities to Global Infrastructure Partners Australia.
The Common Facilities are currently 100 per cent owned by Shell and include LNG storage tanks, jetties and operations infrastructure that service QCLNG’s LNG trains.
Upon completion of the transaction, Shell will remain the majority owner and operator of the Common Facilities.
This decision is consistent with Shell’s strategy of selling non-core assets in order to further high-grade and simplify its portfolio.
Shell Marks Another $4.5 Billion in Oil, Gas Assets Up for Write-Down in 4Q
Royal Dutch Shell plc expects to write down between $3.5 billion to $4.5 billion during the fourth quarter because of impairments, asset restructuring and onerous contracts. It would be the third time this year the Anglo-Dutch supermajor has written down assets.
In a fourth quarter update, Shell said it expects to take a partial impairment on the Appomattox asset in the U.S. Gulf of Mexico (GOM) because of sub-surface updates. The project, located about 80 miles south of New Orleans, began production in May 2019. It was the first commercial discovery to ramp up in the Norphlet formation.
The Shell-operated QGC will now be part-owned by another company following an agreement to sell a share in the operation.
QGC Common Facilities Company Pty Ltd, a wholly-owned subsidiary of Shell, on Monday announced it agreed to the sale of a 26.25 per cent interest in the Queensland Curtis LNG Common Facilities to Global Infrastructure Partners Australia for US$2.5 billion (about $3.3 billion AUD).
The Common Facilities is currently 100 per cent owned by Shell and includes LNG storage tanks, jetties and operations infrastructure that service QCLNG’s LNG trains.
Shell will remain majority owner and operator of these facilities.
In a statement, Shell said this decision was consistent with its strategy of selling non-core assets in order to further high-grade and simplify Shell’s portfolio.
Shell sells $2.5 bln stake in QCLNG unit December 21, 2020, by Adnan Bajic
The Hague-based oil and LNG major Shell has agreed to sell a minority stake in a QCLNG unit for a consideration of $2.5 billion.
Courtesy of Shell
Shell said on Monday its QGC Common Facilities has agreed to sell 26.25 per cent in the Queensland Curtis LNG Common Facilities to Global Infrastructure Partners Australia.
The Common Facilities are currently 100 per cent owned by Shell and include LNG storage tanks, jetties and operations infrastructure that service QCLNG’s LNG trains.
Upon completion of the transaction, Shell will remain the majority owner and operator of the Common Facilities.