Global Infrastructure Partners to acquire a 26.25% stake in QCLNG Common Facilities for $2.5bn.

Global Infrastructure Partners, an independent infrastructure fund manager, agreed to acquire a 26.25% stake in Queensland Curtis LNG Common Facilities, which are owned by Shell, a multinational oil and gas company, and include LNG storage tanks, jetties and operations infrastructure, for $2.5bn. This decision is consistent with Shell’s strategy of selling non-core assets in order to further high-grade and simplify Shell’s portfolio. The sale will contribute to Shell’s expected divestment proceeds, without impact on people or the operations of the QCLNG venture, and aligns Shell’s interest in the Common Facilities with its 73.75% interest in the overall QCLNG venture.