Thursday, Sep 23, 2021
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Shell to sell Gasnor as part of its divestment plan

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The company’s decision to sell its assets comes at a time when it is exploring ways to achieve low-carbon energy

Shell is in talks for the sale of its Norwegian natural gas supplier Gasnor, media reports said. The energy major is seeking to dispose of its assets as part of its divestment plan. 

For the sale, Shell has approached several infrastructure funds and private equity firms. The company’s decision to sell its assets comes at a time when it is exploring ways to achieve low-carbon energy, like its industry peers. It is reported that several divestments in countries such as Argentina, Canada and the UK helped to reduce greenhouse gas emissions last year. 

Gasnor is a natural gas company with liquefied natural gas production. Also, sale of natural gas is a core part of its business. The company delivers liquefied natural gas to industrial and marine customers in Norway, media reports said. In 2012, Shell had agreed to take control of Gasnor business, with a deal of paying $74 million for shares. 

In July, Shell announced its deal with Avitas to enhance drone-monitoring services at its unconventional assets in the Permian Basin. In fact, Shell is one of the few companies to have swiftly adopted drone technology in the oil and gas industry. The drone is expected to play a vital role in reducing emissions at Shell’s North American operations to less than 0.2 percent of its produced natural gas volumes by 2025.

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