Keeping It In the Club - Shell Acquires Repsol's LNG Assets
On 26 February 2013, Repsol announced an agreement with Shell for the sale of its LNG assets. The US$6.7 billion enterprise value included US$4.4 billion in cash for the equity value of the assets. The assets included 4 mmtpa of net equity liquefaction capacity and 7.2 mmtpa of offtake LNG associated with ALNG in Trinidad & Tobago and Peru LNG. For Repsol, following the expropriation of YPF in April 2012, restoring the company's financial flexibility has been a priority. As of 31 December...