Shell completes sale of interest in Queensland Curtis LNG for $2.5 bln

QGC Common Facilities Company, a wholly-owned subsidiary of Shell, announced it has completed the sale of a 26.25 percent interest in the Queensland Curtis LNG (QCLNG) Common Facilities to Global Infrastructure Partners Australia for US$2.5 billion, following the receipt of regulatory approval.

The sale was announced on December 21, 2020, and is consistent with Shell’s strategy of selling non-core assets in order to further high-grade and simplify Shell’s portfolio. The transaction has an economic reference date of January 1, 2021.

The sale will contribute to Shell’s expected divestment proceeds, without impact on people or the operations of the QCLNG venture.