Shell completes Asian equity sales
Shell has completed the sale of its 15% shareholding in Malaysia LNG Tiga (MLNG Tiga) to the Sarawak State Financial Secretary (SFS) for an agreed consideration of $750mn, increasing the latter’s interest to 25%. The other shareholders of MLNG Tiga are Petronas (60%), Nippon Oil Finance (10%) and Diamond Gas (a Mitsubishi subsidiary, 5%).
In addition, Shell and Thai Energy Company have sold their 22.22% interest in the Bongkot field and adjoining acreage offshore Thailand to PTTEP for $750mn. The sale consists of Shell’s stake in blocks 15, 16, 17 and G12/48. PTTEP is the operator of Bongkot and will increase its stake to 66.67% on completion of the sale. The remaining 33.33% is held by Total of France.