LNG

May 3 (LNGJ) - Australian Asia-Pacific LNG stakeholder Santos has sold its non-core Asian exploration and production portfolio for US$221 million to UK company Ophir Energy. Ophir itself is involved in the LNG business through the Fortuna floating joint venture planned for offshore Equatorial Guinea. “The sale is consistent with Santos’s strategy to realise value from its late-life non-core assets and will result in Santos making country exits from Vietnam, Indonesia, Malaysia and Bangladesh,” said the Australian company. Santos Chief Executive Kevin Gallagher said of the transaction: “The sale of the Asian assets further delivers on our undertaking to simplify our business and focus on our five core long-life natural gas (LNG) assets in Australia and Papua New Guinea.”