ConocoPhillips asset sale

Written by  John McKay
Tuesday, 06 March 2012
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March 6 (LNGJ) - ConocoPhillips, which has worldwide LNG interests, said it would sell $10 billion of assets as part of a resturcturing programme. The company, whose LNG assets include the Darwin LNG plant in Australia, plans to spin off its refining business this year. However, the company is unlikely to lower its LNG positions and could build its US shale gas assets ahead of the development of LNG export projects, analysts said. Chief Executive Jim Mulva said the company was on the look-out for "the new Eagle Fords", referring to the Texas shale play where

it holds acreage

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