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Shell reaps US$2.5 billion from sale of minority stake in Queensland Curtis LNG facilities Shell said on Monday it has agreed to sell a 26.25per cent stake in its Queensland Curtis LNG (QCLNG) facilities to Global Infrastructure Partners Australia for US$2.5 billion, helping the oil major meet its annual target for divestments.
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. REUTERS/Marcos Brindicci
21 Dec 2020 09:55AM Share this content
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MELBOURNE: Shell said on Monday it has agreed to sell a 26.25per cent stake in its Queensland Curtis LNG (QCLNG) facilities to Global Infrastructure Partners Australia for US$2.5 billion, helping the oil major meet its annual target for divestments.
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QGC Common Facilities Company Pty Ltd, a wholly-owned subsidiary of Shell, has announced it has agreed to the sale of a 26.25% interest in the Queensland Curtis LNG (QCLNG) Common Facilities to Global Infrastructure Partners Australia for US$2.5 billion.
The Common Facilities are currently 100% 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 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 Shell’s portfolio. The sale will contribute to Shell’s expected divestment proceeds, without impact on people or the operations of the QCLNG venture, and aligns Shell’s interest in the Common Facilities with its 73.75% interest in the overall QCLNG venture.
Shell reaps $2 5 billion from sale of minority stake in Queensland Curtis LNG facilities katcountry989.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from katcountry989.com Daily Mail and Mail on Sunday newspapers.
Australia: Shell sells minority interest in QCLNG Common Facilities infrastructure for US$2.5 billion
21 Dec 2020
Shell, has agreed to the sale of a 26.25% interest in the
Queensland Curtis LNG (QCLNG) Common Facilities to
Global Infrastructure Partners Australia for US$2.5 billion.
The Common Facilities are currently 100% 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 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 Shell’s portfolio. The sale will contribute to Shell’s expected divestment proceeds, without impact on people or the operations of the QCLNG venture, and aligns Shell’s interest in the Common Facilities with its 73.75% interest in the overall QCLNG venture.