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AUSTRALIA PRESS: Shell Considers Queensland Power Exit

AUSTRALIA PRESS: Shell Considers Queensland Power Exit

Tuesday September 14, 6:24 AM

MELBOURNE (Dow Jones)–Energy giant Royal Dutch/Shell (RD) is considering selling its interests in two coal-fired power stations in Queensland, as part of a global overhaul of its energy infrastructure portfolio, the Australian Financial Review reports Tuesday.

Shell-controlled vehicle InterGen owns a 54% stake in the Millmerran power station and a 50% stake in the Callide C facility. Both generate 840 megawatt hours of electricity and are fired by black coal, the report said.

Shell recently said it was considering the sale of its 68% stake in InterGen, which owns more than 20 power stations around the world. InterGen has hired investment bank Citigroup to advise it on how to proceed with a sale of the whole business. Citing unnamed reports, the newspaper said the sale process for InterGen’s power assets should get underway by the end of the month.

Newspaper Web site: http://www.afr.com

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