Shell Gas Holdings (Malaysia) Limited made an announcement regarding the sale of equity in Malaysia LNG Tiga Sdn Bhd (MLNG Tiga) for US$750 million. The economic date of the transaction is Sept 1, 2017, and Shell has been paid a final amount of US$640 million after the dividend adjustments.
The sale is in line with the company’s strategy to make its portfolio simple and become more focused and resilient as a company. Shell has a strong business base in Malaysia and continues to hold on to its commitments with the country.
Source: World Oil