Nov 1 (LNGJ) - Shell completed the sale of its 45 percent shareholding in the Malampaya gas field in the Philippines to Malampaya Energy XP Ltd, a subsidiary of Prime Infrastructure Capital of the Philippines. Shell staff will continue their employment under the new ownership. The other main remaining shareholder in the gas field is local company Udenna Corp.
“Since operations began in 2002, the Malampaya gas field has supplied an important part of the Philippines’ energy demand through the dedicated work of our partners and staff, past and present,” said Zoe Yujnovich, Shell’s Upstream Director. “This sale supports our strategy to create a resilient and competitive Upstream portfolio,” she added. The Malampaya gas field is in the process of depleting and is increasing the urgency for LNG imports to the Philippines.
