After closing an agreement to sell liquefied natural gas assets to Royal Dutch Shell, Spanish oil and gas company Repsol may sell its approximately $6bn interest in utility company Gas Natural Fenosa.
Repsol expects to finalise the Shell deal by the end of 2013.
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The stake in Gas Natural allows Repsol to sell LNG from the company’s liquefaction plants in Trinidad and Tobago and Peru and its regasification plant in Canada.
However, once Repsol has sold the Central and South American plants to Shell, it will have less need for the sale agreement with Gas Natural it holds as part of its stake in the company.
The company is also in the process of selling a large part of its LNG assets to Shell for $6.7bn.
Repsol chief financial officer Miguel Martinez told Reuters that the company has less need for its 30% stake in Gas Natural after closing the deal with Shell.
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By GlobalData"We are not in a hurry, but it is true, that is something we have to seriously think about," Martinez added.
Image: Repsol will divest its liquefaction plants, located in Trinidad and Tobago and Peru to Royal Dutch Shell. Photo: courtesy of Walter Siegmund.
