Shell is considering a sale of a 26.25 percent interest in QCLNG plant in Australia. The sale process, due to be completed in 2020, is being run by Rothschild & Co. Two people familiar with the sale process said the QCLNG Common Facilities in which it might sell a stake could fetch between $2 billion and $3 billion.
Following an approach by infrastructure investors expressing interest in Shell’s assets, flyers on a possible sale went out. With minority stakes owned by Tokyo Gas Co and China National Offshore Oil Corp, Shell owns the majority of the QCLNG plant.
With its $53 billion takeover of BG Group, Shell acquired its stake in QCLNG and the facilities in 2016. To save cash amid a historic oil demand slump, Shell for the first time since World War Two cut its dividend in April. Depending on market conditions, it aims to sell more than $10 billion of assets in 2019-2020.
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Published on June 4, 2020 12:13 PM (GMT+8)Last Updated on June 4, 2020 12:13 PM (GMT+8)
