Financial Times: Royal Dutch/Shell's Dutch disposal: “Royal Dutch/Shell is selling its share in the Netherlands' domestic gas grid to the Dutch state for €1.39bn (£967m).” (ShellNews.net)

By James Boxell

Published: November 2 2004

Royal Dutch/Shell is selling its share in the Netherlands' domestic gas grid to the Dutch state for €1.39bn (£967m).

The Dutch government has been exploring ways to buy out its commercial partners, Shell and ExxonMobil of the US, for the past few years to open the grid to other energy groups. Exxon will receive the same amount in a deal that will see the Dutch government take full control of the grid.

Shell and Exxon will maintain stakes of 25 per cent each in Gasunie, their gas production, trade and supply venture with the Dutch government. Shell has embarked on $10bn to $12bn (£6.5bn) of asset disposals over the next three years to help fund $45bn of capital spending.