Shell's T&T assets at stake in US$30 billion divestment plan

Thursday, March 3, 2016 - 00:00

Royal Dutch Shell Plc, which recently bought over the assets of the BG Group of which BGTT was a part, is preparing to divest US$30 billion in assets, including those it owns in this country.

The Energy Voice is reporting that assets linked to Shell’s interests in Trinidad & Tobago and stakes in oil and gas fields in India may be on the block. Pipelines in the U.S. are also high on the list.

The report says disposal plans aren’t final and will depend on demand.

It notes that oil’s collapse over the past 20 months has eroded balance sheets across the industry and the outlook for a sustained market rout may hinder Shell’s efforts to find buyers for the assets.

The Anglo-Dutch company entered Trinidad’s Atlantic liquefied natural gas project in 2014 with the purchase of stakes from Repsol SA. The BG deal raises its interests in the facility’s four units and gives it control over gas fields in the country, as well as the pipelines that transport the fuel to the plant.

A spokesman for Shell, declined to comment.