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QGC Common Facilities Company has completed the sale of a 26.25 percent interest in the Queensland Curtis LNG Common Facilities to Global Infrastructure Partners Australia for $2.5 billion.
Shell’s (NYSE: RDS.A) wholly owned subsidiary, QGC Common Facilities Company Pty Ltd, has revealed that it has completed the sale of a 26.25 percent interest in the Queensland Curtis LNG (QCLNG) Common Facilities to Global Infrastructure Partners Australia for $2.5 billion.
The sale, which was first announced on December 21, 2020, is consistent with Shell’s strategy of selling non-core assets in order to further high-grade and simplify its portfolio, Shell noted. Shell said the sale will contribute to its expected divestment proceeds, without impact on people or the operations of the QCLNG venture.
The sale was announced on December 21, 2020, and is consistent with Shell s strategy of selling non-core assets in order to further high-grade and simplify Shell s portfolio. The. | March 16, 2021
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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 .