Shell looking to sell stake in Philippines' Malampaya gas project
Royal Dutch Shell PLC is looking to sell its 45% stake in the Malampaya gas-to-power project in the Philippines, a key power source for the country's main island of Luzon, its local unit said.
“As part of an ongoing portfolio rationalization to simplify and increase the resilience of its business, Shell is exploring its options with a view to divest its interest” in Malampaya, a spokeswoman said.
“Shell would ensure a smooth transition of the asset to a credible buyer who would be well placed to optimize the value from Malampaya,” the spokeswoman said in response to emailed questions, without naming any potential buyers.