Shell Exits Aussie LNG Project In $1.14B Sale

Law360, New York (January 21, 2014, 4:13 PM EST) -- Royal Dutch Shell PLC is leaving the Wheatstone liquefied natural gas project, selling interests in both a joint venture and the project in Western Australia for $1.14 billion in cash to the Kuwait Foreign Petroleum Exploration Co., it said Monday.

The Netherlands-based company has agreed to sell both its 8 percent equity interest in the Wheatstone-Iago Joint Venture to KUFPEC, which is an existing member of the venture, and its 6.4 percent interest in the 8.9 million-tons-per-year Wheatstone LNG project, Shell said. The deal is still...
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