Norske Shell sells LNG business to Spain’s Molgas

The Norwegian subsidiary of energy firm Shell (Norkse Shell) has sold its downstream LNG subsidiary Gasnor to Spanish Molgas Energy Holding for an undisclosed sum. The transaction transfers all of Norske Shell’s complete shareholding in Gasnor to Molgas and includes all of Gasnor’s assets and 52 staff. Gasnor is a downstream LNG company with small scale LNG production facilities headquartered in Avaldsnes, Norway. The sale of Gasnor has no effect on the operations or organisation of Norske Shell. The divestment also does not affect Shell’s interests in Shell’s LNG Gibraltar terminal, where Gasnor will continue to provide operator services.