Royal Dutch Shell plc continues to expand its industry leadership in Liquefied Natural Gas (LNG) with the acquisition of part of Repsol S.A’s LNG portfolio outside of North America, including supply positions in Peru and Trinidad & Tobago, for a cash consideration of $4.4 billion. Shell will also assume and consolidate balance sheet liabilities predominantly reflecting leases for LNG ship charters of currently $1.8 billion.
“Shell’s world-wide LNG supply position and customer base means we are uniquely positioned to add value to Repsol’s LNG portfolio, including through Shell’s trading capabilities,” said Chief Executive Officer, Peter Voser. “By optimizing the combined portfolios we will increase our ability to bring LNG to areas that need it the most, adding value for Shell, our partners and our customers.”