Shell buys Centrica gas assets in Trinidad and Tobago for $30M

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) agrees to acquire Centrica's (OTCPK:CPYYF) natural gas assets in Trinidad and Tobago for $30M.

The assets include a 17.3% interest in the producing NCMA-1 block as well as operating interests in two undeveloped blocks; Shell has a presence in Trinidad through its stake in Atlantic LNG, one of the world's largest plants.

Separately, Centrica and its partners say they will invest NOK5.4B ($630M) in the development of the Oda oilfield off Norway after cutting costs by 45% compared to initial estimates.