Shell And Trinidad NGC's Imminent $1B Deal Poised To Ignite Venezuela's Stalled Gas Industry
Portfolio Pulse from Nabaparna Bhattacharya
Shell PLC (NYSE:SHEL) and Trinidad and Tobago's National Gas Company (NGC) are close to an agreement to credit Venezuela's state-run oil firm PDVSA for its $1 billion investment in a gas field they plan to develop jointly. This could accelerate a long-delayed offshore development initiative. The US authorized Venezuela's PDVSA, Shell, and NGC for two years to revitalize the project in January. Shell and NGC have not yet committed to PDVSA on the reimbursement but are ready to settle for 'all legitimate claims'.
September 05, 2023 | 3:20 pm
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Shell is nearing an agreement with NGC to credit PDVSA for its $1 billion investment in a gas field they plan to develop jointly. This could accelerate a long-delayed offshore development initiative.
The news of Shell nearing an agreement with NGC to credit PDVSA for its $1 billion investment in a gas field they plan to develop jointly is directly related to Shell and its operations. This could potentially accelerate a long-delayed offshore development initiative, which could positively impact Shell's operations and revenues in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100