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DAILY MAIL (UK): Shell close to a gas megadeal with Qatar: "Reports from the Arabian Gulf say Shell will shortly agree with Qatar Petroleum to export 4bn of liquefied natural gas to the US. A deal would help Shell to replace some of its depleted oil and gas reserves. In London, someone paid 343m for 70m Shell shares at 490.63p - a deal that dominated the day's trading. Shell would not comment. (ShellNews.net) 24 Feb 05

 

SHELL came close to clinching a big deal to export frozen gas from Qatar as a massive block of its shares changed hands.

 

Reports from the Arabian Gulf say Shell will shortly agree with Qatar Petroleum to export 4bn of liquefied natural gas to the US. A deal would help Shell to replace some of its depleted oil and gas reserves.

 

In London, someone paid 343m for 70m Shell shares at 490.63p - a deal that dominated the day's trading. Shell would not comment.

 

It is one of the few companies that is big enough to shrug off such a major deal. Traders think big funds have been buying shares in London-quoted Shell and selling Amsterdam-quoted Royal Dutch before they are streamlined into one company. This will be 8pc of the FTSE 100 so index-tracking funds need to increase their holdings. The Qatar deal is one of the projects that will hopefully transform Shell's prospects - but not until 2009 to 2010.

 

http://www.thisislondon.co.uk/news/business/articles/timid398321?source=

 


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