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Reuters: Shell sells some European LPG businesses

Wed Mar 21, 2007 12:48 PM BST

AMSTERDAM, March 21 (Reuters) – Shell said on Wednesday it had signed a deal to sell its liquified petroleum gas (LPG) businesses in Bulgaria, the Czech Republic, Germany, Romania, Spain, and Switzerland to France’s Rubis .

The sale is part of the Anglo-Dutch oil major’s strategy to streamline its downstream activities. Shell did not give financial details.

“The LPG business is making significant progress in simplifying our portfolio, reducing complexity and operating costs,” Erwin Friederich, vice president for Shell’s global LPG business, said in a statement.

“We are consolidating and building our business where we’re already strong, investing and growing in markets with the highest potential, whilst taking strategic decisions to move out others,” he added.

The deal in Romania is subject to approval of Shell’s existing partners in the country, the company said.

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