Shell likely to cash in on Ireland’s Corrib
11 April 2017
After battling for nearly a decade and a half to develop Ireland’s Corrib gas field, Shell may be about to offload its stake in the project just over a year after announcing first gas.
Although Shell has refused to confirm that it is looking to sell, The Sunday Times reported in December that Australian investment bank Macquarie had approached the Anglo-Dutch major about a potential deal.
Ireland’s Business Post followed up the story in early March, stating that “up to three” potential buyers were considering making unsolicited bids for Shell’s 45% stake in the Corrib project, which the two newspapers valued at more than £1 billion ($1.24 billion).