Shell and CPC announce LNG sales deal

16 May 2011

Shell today announced it has agreed to sell most of its Downstream business in Chile
to Quiñenco for a total consideration of some US$614 million.

Shell Eastern Trading (Pte.) Ltd, trading as Shell Eastern LNG (Shell), and CPC Corporation, Taiwan (CPC) have signed a Heads of Agreement (HOA) for the long-term supply of liquefied natural gas (LNG) from Shell’s global LNG portfolio. With this HOA Shell will supply two million tonnes per annum for 20 years starting in 2016.

The agreements were signed recently by CPC and Shell in Taipei and Singapore respectively and exchanged by the parties in Taipei.

This is the first long-term LNG deal between Shell and CPC. The agreement will see Shell become one the main suppliers of LNG to Taiwan.

The terms of the HOA provides for CPC and Shell to work together and conclude detailed sale and purchase agreements in the coming months..

Royal Dutch Shell plc
Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges.. Shell companies have operations in more than 90 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects. For further information, visit www.shell.com.

Shell