Royal Dutch Shell PLC To Acquire Part Of Repsol S.A's LNG Portfolio Outside Of North America
Royal Dutch Shell PLC announced that it continues to expand its industry leadership in Liquefied Natural Gas (LNG), agreeing to acquire part of Repsol S.A's (Repsol) LNG portfolio outside of North America, The acquisition will add a new dynamic to Shell's portfolio, namely LNG capacity in the West Atlantic from Atlantic LNG in Trinidad & Tobago, and in the East Pacific from Peru LNG. These additions will complement Shell's existing LNG capacity in Africa, Asia, Australia, the Middle East and Russia. The acquisition should add some 7.2 million tonnes per annum (mtpa) of LNG volumes through long-term off-take agreements, including some 4 mtpa of equity LNG plant capacity. Shell expects to add value to this portfolio by optimizing the new LNG flows in our world-wide customer base. Subject to completion, the new portfolio is expected to immediately provide additional cash flow to Shell, with limited on-going capital expenditure requirements. The transaction, which has an effective date of October 1, 2012, is expected to close in the second half of 2013 or early 2014. Shell has agreed to acquire from several Repsol subsidiaries which own key LNG businesses of Repsol. Upon completion, after securing regulatory approvals and meeting other conditions precedent, the transaction will add: 1Net 4.2 mtpa equity LNG plant capacity.
Latest Developments for Royal Dutch Shell PLC
Latest Key Developments in Oil
- Share this
- Digg this