Omani gas player buys Shell's Malaysia LPG outfit
Oman’s National Gas Company has signed a letter of intent to acquire Shell’s liquefied petroleum gas (LPG) assets and operations in Malaysia.
The deal agreed with Shell Malaysia Trading will see theOmani player acquire all of the Anglo-Dutch supermajor’s LPG-related assets andbusiness in the country for an undisclosed sum.
National Gas Company chief executive Goutam Sen said in astatement on Wednesday that the acquired business boasted healthy profits and agood customer base, adding it would bolster the Middle Eastern outfit’s bid tofocus on the high-growth LPG market in southeast Asia.
Shell Malaysia’s LPG output capacity runs to between 22,000and 25,000 tonnes a month, the chief executive said.
(Copyright)