QGC Common Facilities Company has completed the sale of a 26.25 percent interest in the Queensland Curtis LNG Common Facilities to Global Infrastructure Partners Australia for $2.5 billion.
Shell’s (NYSE: RDS.A) wholly owned subsidiary, QGC Common Facilities Company Pty Ltd, has revealed that it has completed the sale of a 26.25 percent interest in the Queensland Curtis LNG (QCLNG) Common Facilities to Global Infrastructure Partners Australia for $2.5 billion.
The sale, which was first announced on December 21, 2020, is consistent with Shell’s strategy of selling non-core assets in order to further high-grade and simplify its portfolio, Shell noted. Shell said the sale will contribute to its expected divestment proceeds, without impact on people or the operations of the QCLNG venture.
Advertisement
Shell has sold a minority interest in Queensland Curtis LNG (QCLNG) Common Facilities to Global Infrastructure Partners.
QGC Common Facilities Company Pty Ltd, a wholly-owned subsidiary of Shell, has announced it has completed 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, following the receipt of regulatory approval.
The sale was announced on 21 December 2020, and is consistent with Shell’s strategy of selling non-core assets in order to further high-grade and simplify Shell’s portfolio. The transaction has an economic reference date of 1 January 2021.
The sale will contribute to Shell’s expected divestment proceeds, without impact on people or the operations of the QCLNG venture.
- Shell announces completion of sale of euro-petrole.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euro-petrole.com Daily Mail and Mail on Sunday newspapers.
ALTERNATIVE PERFORMANCE (NON-GAAP) MEASURES
This announcement includes certain measures that are not defined by generally accepted accounting principles (GAAP) such as IFRS, including Adjusted Earnings, CFFO excluding working capital movements, Cash capital expenditure, Organic free cash flow, Return on average capital employed, Underlying operating expenses, Gearing and Net debt. This information, along with comparable GAAP measures, is useful to investors because it provides a basis for measuring Royal Dutch Shell plc’s operating performance and ability to retire debt and invest in new business opportunities. Royal Dutch Shell plc’s management uses these financial measures, along with the most directly comparable GAAP financial measures, in evaluating the business performance.
The Hague, February 4, 2021
“2020 was an extraordinary year. We have taken tough but decisive actions and demonstrated highly resilient operational delivery while caring for our people, customers and communities. We are coming out of 2020 with a stronger balance sheet, ready to accelerate our strategy and make the future of energy. We are committed to our progressive dividend policy and expect to grow our US dollar dividend per share by around 4% as of the first quarter 2021.” Royal Dutch Shell Chief Executive Officer, Ben van Beurden
STRONG OPERATIONAL DELIVERY IN AN EXTRAORDINARY YEAR
Resilient financial results, with sector-leading cash generation. Net debt reduced by $4 billion to $75 billion during 2020.