Shell to buy Repsol assets

Marion Dakers
SPANISH oil group Repsol yesterday confirmed that Shell will buy some of its liquid natural gas assets for a total of $6.7bn (£4.4bn) in cash, leases and debts.

Repsol has agreed to sell off assets in Trinidad & Tobago, Peru and Spain in a deal intended to cut net debt at the firm.

The Spanish group said last night that the assets had attracted more than a dozen bids, and that the sale will generate a $3.5bn capital gain.