Shell weighs sale of $2 billion-plus stake in Queensland LNG facilities

FILE PHOTO – Filled oil drums are seen at Royal Dutch Shell Plc’s lubricants blending plant in the town of Torzhok, north-west of Tver, November 7, 2014. REUTERS/Sergei Karpukhin/File Photo

MELBOURNE/SYDNEY (Reuters) – Royal Dutch Shell (RDSa.L) is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Australia, according to a sale flyer seen by Reuters.

“Royal Dutch Shell plc (“Shell”) is considering a sale of a 26.25% intrest in the Queensland Curtis LNG (“QCLNG”) Common Facilities – a multibillion dollar investment opportunity,” the sale flyer said.

The sale process is being run by Rothschild & Co and is due to be completed in 2020, the document showed.

Shell declined to comment on what it called market speculation.

The facilities in which it might sell a stake could fetch between $2 billion and $3 billion, two people familiar with the sale process said.

Reporting by Sonali Paul in Melbourne and Paulina Duran in Sydney; Additional reporting by Ron Bousso in London; Editing by Clarence Fernandez and Louise Heavens

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