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Posts on ‘June 24th, 2019’

Shell’s lead in bidding for Dutch Eneco increases as Enel, Total drop out: sources

Clara Denina, Stephen Jewkes, Toby Sterling: JUNE 24, 2019 / 4:43PM

LONDON (Reuters) – A domestic consortium set up by Royal Dutch Shell and pension fund manager PGGM has taken a bigger lead in the race for Dutch energy company Eneco as two other contenders have dropped out, sources close to the matter said.

French oil and gas company Total SA and Italy’s electricity giant Enel, which had teamed up with Dutch pension fund manager APG, have both withdrawn their non-binding offers, said the sources.

One of the sources added that APG was now looking for a new partner.

Infrastructure fund Macquarie and Japan’s biggest trading house Mitsubishi Corp are also still in the race for the company estimated by analysts to be worth about 3 billion euros ($3.4 billion), sources said. One said French nuclear energy utility EDF had also made a non-binding offer. read more

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Shell explains why it withdrew from Baltic LNG project with Gazprom

After Shell’s exit from the project, Gazprom reported that they were considering technologies of Shell and Germany’s Linde AG for the LNG integrated complex project in Ust-Luga

OIL& GAS INDUSTRY: 24 JUN, 14:39

ST.PETERSBURG, June 24. /TASS/. Shell decided to withdraw from the Baltic LNG project because it does not agree with the change in its concept, Cederic Cremers, Shell Russia Chairman, told TASS on the sidelines of the forum of future leaders of the World Petroleum Council.

“The reason is that we don’t believe into an integrated concept. We were discussing the initial concept which was to separate LNG project from the chemical plant. That was the concept that we believed would be properly technical and economically investable. So that is why we decided to exit because we don’t have the same view on the integrated development,” he explained. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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