Shell completes $750 mln equity sale in MLNG Tiga

Shell completes $750 mln equity sale in MLNG Tiga

Shell, through its Malaysian unit Shell Gas Holdings, completed the sale of its 15 percent shareholding in Malaysia LNG Tiga to the Sarawak State Financial Secretary (SFS) for $750 million.

The transaction has been dated to September 1, 2017, with the net final consideration paid to Shell after adjustments for dividends the company received up to completion is approximately $640 million.

SFS is an existing MLNG Tiga shareholder and with the completion of this transaction, increased its shareholding in MLNG Tiga to 25 percent.

The other shareholders of MLNG Tiga are Petronas with 60 percent equity, Nippon Oil Finance (Netherlands) with 10 percent and Diamond Gas (Netherlands), a Mitsubishi Corporation with 5 percent equity.

Malaysia LNG, a Petronas unit, operates MLNG Tiga as part of the larger Petronas LNG complex in Bintulu.

Shell said this sale is consistent with Shell’s strategy to simplify its portfolio.

Following the expiry of the MLNG Satu and Dua joint venture agreements, MLNG Tiga was Shell’s only remaining interest in the Petronas LNG complex.

Share this article

Follow LNG World News

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

2nd Central and Eastern European Small Scale LNG Forum

The Forum is for LNG industry leaders, who want to keep up to date with Small-Scale LNG latest trends and many other topics!

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >