Energy Voice | Shell completes $750m sale of Malaysian LNG stake

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 link