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Shell completes $750 mln sale of Malaysian LNG stake

Shell said that it had completed the sale of its 15% shareholding in Malaysia LNG Tiga.


Kuala Lumpur, June 20 - Neftegaz.RU. Shell said today that it had completed the sale of its 15% shareholding in Malaysia LNG Tiga (MLNG Tiga) for $750 million.

 

The Anglo-Dutch energy giant offloaded the stake to the Sarawak State Financial Secretary (SFS), which now has a 25% interest in MLNG Tiga overall.

 

The other shareholders of MLNG Tiga are Petronas, with 60% equity, Nippon Oil Finance, with 10%, and Mitsubishi Corporation, with 5%.

 

Shell said the sale was part of its $30 billion divestment programme, aimed at balancing the books following its acquisition of BG Group.

 

A Shell spokesman said: «Completion of this sale demonstrates the clear momentum behind Shell’s delivery of its global divestment programme. Shell continues to have a strong business in Malaysia and remains committed to the country.»

 

Source : Neftegaz.RU