Shell agrees to sell certain midstream assets to Ashmore Energy International

abarrelfullabarrelfull wrote on 15 Jul 2012 12:16

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Shell announced today that it has signed an agreement to sell its interests in certain hydrocarbon transportation and power generation assets in Bolivia and Brazil to Ashmore Energy International (AEI). The transaction is pending all regulatory approvals and consents.

“The proposed sale is consistent with Shell’s strategy to act on market opportunities to divest assets, which we no longer see as core to our principal upstream and downstream businesses,” said Antonio Assumpcao, the VP responsible for Shell’s Gas & Power activities in South America. “The transaction enables Shell to better align its resources in support of its core businesses.”

Shell and AEI currently own equity in the assets in the transaction, which include:

  1. Transredes Transporte de Hidrocarburos S.A. (TRSA), a natural gas and liquids pipeline company in Bolivia providing domestic and export hydrocarbon transportation and services (Shell share 25%).
  2. Bolivia Brazil Pipeline, which includes Gas TransBoliviano S.A. (GTB) in Bolivia (Shell share 17%) and Transportadora Brasileira Gasoduto Bolivia-Brasil S.A. (TBG) in Brazil (Shell share 4%).
  3. Cuiaba Integrated Business (Shell share 50%), which includes:
    1. Empresa Produtora de Energia Ltda. (EPE), a 480-MW gas-fired, combined cycle power plant located in Cuiaba Mato Grosso, Brazil.
    2. Gasocidente de Mato Grosso Ltda. (GOM), a natural gas pipeline company in Brazil transporting gas from the Bolivian border to the EPE power plant.
    3. Gasoriente Boliviano Ltda. (GOB), a natural gas pipeline company in Bolivia interconnected at the Bolivia-Brazil border to the GOM pipeline.
    4. Transborder Gas Services Ltd. (TBS), a natural gas trading company servicing the EPE power plant.

Shell’s remaining assets and business development activities in the region will be unaffected by the transaction.

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