Shell has cemented its position as the largest private-sec- tor LNG producer, increasing its capacity by a fifth by buying most of Spanish Repsol's LNG assets for $6.7bn. Shell will pay $4.4bn in cash and assume $2.3bn in debt and leases for LNG ship charters. The deal includes a 23pc stake in the 14.6mn t/yr Atlantic LNG project in Trinidad and Tobago, and a 20pc share of the 4.5mn t/yr Peru LNG plant. Shell's global LNG production capacity will rise by almost 20pc to more than 26mn t/yr when the transaction closes by early next year, equiva- lent to around 60pc of the current combined capacity of the other majors (see table).
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