The Rising Influence of Rising Affluence

[DewDiligence]

Shell pays Repsol $6.6B for LNG facilities and other assets:

http://finance.yahoo.com/news/shell-continues-expand-lng-leadership-192300046.html

Shell has agreed to acquire from several Repsol subsidiaries which own key LNG businesses of Repsol. Upon completion, after securing regulatory approvals and meeting other conditions precedent, the transaction will add net 4.2 mtpa equity LNG plant capacity comprising:

• ALNG trains 1-4 14.6 mtpa capacity, on a 100% basis (20-25% equity per train); operated by Atlantic LNG Company of Trinidad and Tobago

• Peru LNG 4.45 mtpa capacity, on a 100% basis (acquisition: 20% equity; 100% offtake); operated by Peru LNG Company

• BBE power plant in Spain (25%, 800MW); operated by Bahía de Bizkaia Electricidad S.L.

• A fleet of LNG carriers, comprising both long term and short term time charters.

• A material LNG marketing and trading operation, with 7.2 mtpa of LNG volumes through long-term off-take agreements.

• As part of this agreement, Shell has committed to supply around 0.1 mtpa of LNG to Repsol's Canaport LNG terminal in Canada over a period of 10 years.