Shell has sold the first phase of its LPG marketing business in Hong Kong and Macau to DCC LPG – an Irish energy services group – for approximately US$150 million, as part of a deal that was first announced in April 2017.
Shell will continue to operate its LPG plant in Hong Kong for the moment, which is part of the second phase of the transaction. Shell branded LPG products will also remain for sale in Hong Kong and Macau via a long-term agreement with DCC LPG.
Shell has confirmed that the sale will not impact any of its other businesses.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/03012018/shell-completes-sale-of-lpg-marketing-business/