Shell sells stake in Wheatstone-Iago LNG stake in Australia

Royal Dutch Shell has agreed to sell its 8% equity interest in the Wheatstone-Iago joint venture and 6.4% interest in the Wheatstone liquefied natural gas project in Western Australia for $1,135 million to the Kuwait Foreign Petroleum Exploration Co.

Offshore staff
 
HOUSTONRoyal Dutch Shell has agreed to sell its 8% equity interest in the Wheatstone-Iago joint venture and 6.4% interest in the Wheatstone liquefied natural gas (LNG) project in Western Australia for $1,135 million to the Kuwait Foreign Petroleum Exploration Co. (KUFPEC). The project produces 8.9 MM metric tons (9.8 MM tons) per annum.

Shell representatives said that the agreement with KUFPEC, an existing Wheatstone joint-venture partner, ensures that there will be no impact on existing commercial agreements.

01/20/2014

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