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Repsol sells LNG assets to Shell for $4.1bn

Published January 2, 2014 Updated January 2, 2014 08:03am

1 min

By Parvez Jabri

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MADRID: Spanish oil group Repsol announced on Thursday it has completed the sale of its liquefied natural assets to Royal Dutch Shell for $4.1 billion (3 billion euros), slashing its heavy debt load.

Repsol handed over its LNG assets in Peru and Trinidad and Tobago to Shell, helping the group to beat its own target of shedding up to $4.5 billion in assets from 2012-2016, it said in a statement.

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