Shell sells $2.5b stake in Curtis Island LNG plant
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In the end-of-year rush to close out deals, global oil and gas giant Shell announced it has sold off over a quarter of its wholly owned Curtis Island LNG processing site to Global Infrastructure Partners Australia for $US2.5 billion ($3.3 billion), while Origin Energy told investors it has bought into Western Australia s Canning basin.
The Global Infrastructure Partners Australia fund will take a 26.5 per cent stake in Shell s $9.43 billion Queensland Curtis LNG (QCLNG) Common Facilities, which includes storage tanks, jetties and operations infrastructure that service QCLNG’s LNG trains, firming up Shell s strategy to sell non-core assets to simplify Shell s portfolio .
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