Shell to sell Wheatstone LNG stake

Shell is to sell its 8% equity interest in the Wheatstone-Iago joint venture and 6.4% interest in the 8.9mn t/y Wheatstone LNG project in Western Australia for $1,135mn to the Kuwait Foreign Petroleum Exploration Company (Kufpec). Kufpec is an existing Wheatstone joint-venture partner, ensuring there will be no impact on existing commercial agreements.