Shell is looking for takers for its 36.8% stake in Egypt’s 7.2mn t/y ELNG liquefaction plant at Idku near Alexandria on the country’s Mediterranean coast, MEES understands.
The Anglo-Dutch major jointly operates the plant with Malaysian state firm Petronas, which has an identical stake. The two firms also operate the West Delta Deep Marine (WDDM) and Rosetta offshore fields, which long provided the key feedstock to the ELNG plant, but whose output has been in steep decline (MEES, 4 September). Shell's onshore Western Desert acreage has been officially for sale since last October (MEES, 17 July). And, whilst the firm's offshore Med assets are not currently on the market, it has in the past indicated a willingness to quit here too. (CONTINUED - 674 WORDS)