Spanish oil company Repsol (NYSE: REPYY) has closed the US$4.1bn sale of its LNG assets in Peru and Trinidad and Tobago to Anglo-Dutch oil giant Shell (NYSE: RDS), according to a company press release.
In October, Repsol sold its US$200mn stake in Bahía Bizkaia Electricidad (BBE) to UK-based major BP (NYSE: BP). Together the sales have generated Repsol US$2.9bn in profit and capital gains after tax.
Shedding financial commitments and non-consolidated debt, the transaction has also reduced Repsol's net debt by US$3.3bn.
With an estimated 5bn euros (US$6.865bn) of assets sold, Repsol has now surpassed its 2012-2016 divestment plans of 4bn to 4.5bn euros.
Additionally, Repsol and Shell signed a supply agreement with Canadianregasification terminal Canaport for approximately 1Mt over a 10-year period.
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