Royal Dutch Shell acquires Repsol's LNG portfolio outside North America

Royal Dutch Shell (RDS.A) announced it has agreed to acquire part of Repsol's (REPYY) Liquefied Natural Gas portfolio outside of North America, including supply positions in Peru and Trinidad & Tobago, for a cash consideration of $4.4B. Shell said it will also assume and consolidate balance sheet liabilities predominantly reflecting leases for LNG ship charters of currently $1.8B. The balance sheet impacts are subject to final assessment prior to completion of the transaction. The transaction, which has an effective date of 1 October 2012, is expected to close in the second half of 2013 or early 2014, subject to regulatory approvals and other conditions precedent.