ConocoPhilips Nets $600M Unloading Stake In T&T Gas Plant

Law360, New York (August 19, 2013, 5:11 PM EDT) -- ConocoPhillips Co. said Friday that it's sold its stake in a Trinidad and Tobago gas processing plant to the state-owned National Gas Co. of Trinidad and Tobago Ltd. for $600 million, as the company continues to shed noncore assets as part of a long-term strategic reorganization plan.

ConocoPhillips has agreed to sell its wholly owned subsidiary Trinidad and Tobago Holdings LLC, which owns a 39 percent stake in Phoenix Park Gas Processors Ltd., Phoenix Park operates a gas processing and natural gas liquids fractionation facility in...
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