Shell lands in East Africa gas with US $70 Bn BG offer

摘要

Shell's near US $70 Bn offer for BG will see it become the largest non-state oil company in the world and finally make its entry to the East African gas market and consolidate its interests in other parts of Africa. The purchase has been driven by the fall in share prices with Shell Chief Executive Ben van Beurden saying that: "in the last months it has also become a compelling deal from a value perspective". As Total also recently said, the current drop in share prices means that the cheapest way to grow is by acquisition rather than exploration.