Shell Sells Wheatstone LNG Stake in Australia

Posted by Michelle Howard
Monday, January 20, 2014

Royal Dutch Shell plc has announced it has agreed to sell its 8% equity interest in the Wheatstone-Iago Joint Venture and 6.4% interest in the 8.9 million metric tons per annum Wheatstone liquefied natural gas (LNG) project in Western Australia for a cash consideration of $1.135 billion to the Kuwait Foreign Petroleum Exploration Company (KUFPEC), subject to closing.

Shell Chief Executive Officer Ben van Beurden commented, “Shell will remain a major player in Australia’s energy industry. However, we are refocusing our investment to where we can add the most value with Shell’s capital and technology. We are making hard choices in our world-wide portfolio to improve Shell’s capital efficiency.”

The agreement with KUFPEC, an existing Wheatstone joint-venture partner, ensures there will be no impact on existing commercial agreements.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NOIA Applauds RI Offshore Wind Project

National Ocean Industries Association (NOIA) president Randall Luthi issued a statement congratulating “steel in the water” for Deep Water Wind’s Block Island Wind Farm,

BTP Handles Millionth Container

Brazil’s newest container terminal hits a series of efficiency milestones   Brasil Terminal Portuário (BTP), Brazil’s newest container terminal in the Port of Santos,

SBM Offshore Completes $1.55 bln FPSO Financing

SBM Offshore announced it has today completed the project financing of FPSO Cidade de Saquarema for a total of $1.55 billion, marking the largest project financing in the company's history.

Finance

SBM Offshore Completes $1.55 bln FPSO Financing

SBM Offshore announced it has today completed the project financing of FPSO Cidade de Saquarema for a total of $1.55 billion, marking the largest project financing in the company's history.

NAT Buys 2 Suexmax Tankers

Nordic American Tankers Limited (NAT) acquires two modern Suezmax tankers, increasing the fleet to 26 vessels    Tanker shipping company NAT announced that it

Rolls-Royce Bolsters R&D for MTU Engines

New R&D test facilities in Friedrichshafen already in service; 40 million euros invested for greater fuel economy and lower emissions    Rolls-Royce Power Systems

LNG

FERC Approves Excelerate’s Offshore GasPort

Excelerate receives approval to move forward with the construction and operation of LNG terminal   On July 24, 2015, the U.S. Federal Energy Regulatory Commission

ABS Grants AIP for Jensen’s LNG ATB Design

A Jensen Maritime-designed, liquefied natural gas (LNG)-bunkering articulated tug-barge (ATB) has been granted approval in principle (AIP) by classification society American Bureau of Shipping (ABS).

Asian LNG Spot Climbs as Jordan, Pakistan Buy

Asian liquefied natural gas (LNG) spot prices for September delivery were higher on Friday supported by nearby demand from new importers including Jordan and Pakistan, traders said.

News

NOIA Applauds RI Offshore Wind Project

National Ocean Industries Association (NOIA) president Randall Luthi issued a statement congratulating “steel in the water” for Deep Water Wind’s Block Island Wind Farm,

Mozambique Port Accident Deals Blow to Vale Coal Project

A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale's effort to start coal shipments from the African nation in the third quarter,

BTP Handles Millionth Container

Brazil’s newest container terminal hits a series of efficiency milestones   Brasil Terminal Portuário (BTP), Brazil’s newest container terminal in the Port of Santos,

Offshore Energy

NOIA Applauds RI Offshore Wind Project

National Ocean Industries Association (NOIA) president Randall Luthi issued a statement congratulating “steel in the water” for Deep Water Wind’s Block Island Wind Farm,

CAPE Holland Deploys New Vibro Lifting Tool

Earlier this week, during its first commercial application, the newly developed Vibro Lifting Tool (VLT) of CAPE Holland has successfully installed four piles in up to 90 meters water depth.

FERC Approves Excelerate’s Offshore GasPort

Excelerate receives approval to move forward with the construction and operation of LNG terminal   On July 24, 2015, the U.S. Federal Energy Regulatory Commission

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1769 sec (6 req/sec)