Abadi LNG takes another step forward as Shell and INPEX Masela consolidate ownership
INPEX Masela and Shell are to acquire Energi Mega Persada's 10% interest in the Masela PSC, including the Abadi FLNG project. The move will consolidate the remaining partners' equity, and should smooth progress towards FID on the first phase of the project, expected in 2015.No consideration was announced. Based on the US$875 million Shell paid for a 30% stake in the Masela PSC in 2011, EMP's stake would be worth US$292 million. Given progress made in the interim towards moving ...