Salg av Gasnor

English Translation

Shell sells downstream LNG business Gasnor

A/S Norske Shell today signed a sale and purchase agreement for the sale of its fully owned subsidiary Gasnor AS to Molgas Energy Holding (“Molgas”). Deal completion took place directly after signing. The transaction involves the transfer of A/S Norske Shell‘s complete shareholding in Gasnor to Molgas and includes all of Gasnor’s assets and staff.

“Gasnor has been part of Shell since 2012 and we are proud of what the company has achieved. Gasnor has been a pioneer in downstream LNG, with a leading position in small scale LNG production and distribution in the domestic gas market. A/S Norske Shell will continue to focus on key positions where we can leverage our differentiated capabilities in line with Shell’s strategy and Net Zero target”, said Marianne Olsnes, Managing Director of A/S Norske Shell.

All of Gasnor’s 52 staff will continue their employment under Molgas. The sale of Gasnor has no effect on the operations or organisation of A/S Norske Shell.

“We have been very pleased with the success of Gasnor and the learnings captured for our global downstream LNG operations. Gasnor is well positioned to continue its growth journey with Molgas” said De La Rey Venter, Shell’s Executive Vice President Integrated Gas Ventures.

Notes to Editors:

• Gasnor is a downstream LNG company with small scale LNG production facilities, headquartered in Avaldsnes, Norway.
• Shell has been100% owner of Gasnor since 2012
• Molgas, headquartered in Madrid, is owned by InfraVia, a leading French independent private equity firm specializing in infrastructure and technology investments.
• The transaction has an effective date of 1^st January 2020.
• The divestment does not affect Shell’s interests in Shell LNG Gibraltar Ltd. Gasnor will continue to provide operator services to the terminal.

Cautionary note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this release “Shell”, “Shell Group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this release refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

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