Singapore, China reach out to Spanish gas firm

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Gas NaturalSingapore state investment giant Temasek and Chinese oil group Sinopec aim to snap up a multi-billion dollar stake in Spain’s Gas Natural, the Financial Times reported on October 7.

The two companies had contacted Spanish oil firm Repsol separately to say they were interested in buying its $6.4 billion stake in Gas Natural, the paper said, citing people close to the process.

Spanish company Repsol has a 30-per cent stake in Gas Natural and wants to sell most of the investment so as to leave itself with a five per cent share in the gas firm. Repsol has been selling assets to replace income lost after the nationalisation of its Argentinian subsidiary YPF by Cristina Kirchner’s government in April 2012.

In February, Repsol announced it was selling a part of its liquefied natural gas business to Dutch-anglo group Royal Dutch Shell for $6.65 billion. Repsol and its largest investor, CaixaBank, as well as the Spanish government all approved of Temasek and Sinopec as potential investors, the report said.

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Reading Time: 1 minute

Singapore state investment giant Temasek and Chinese oil group Sinopec aim to snap up a multi-billion dollar stake in Spain’s Gas Natural, the Financial Times reported on October 7.

Reading Time: 1 minute

Gas NaturalSingapore state investment giant Temasek and Chinese oil group Sinopec aim to snap up a multi-billion dollar stake in Spain’s Gas Natural, the Financial Times reported on October 7.

The two companies had contacted Spanish oil firm Repsol separately to say they were interested in buying its $6.4 billion stake in Gas Natural, the paper said, citing people close to the process.

Spanish company Repsol has a 30-per cent stake in Gas Natural and wants to sell most of the investment so as to leave itself with a five per cent share in the gas firm. Repsol has been selling assets to replace income lost after the nationalisation of its Argentinian subsidiary YPF by Cristina Kirchner’s government in April 2012.

In February, Repsol announced it was selling a part of its liquefied natural gas business to Dutch-anglo group Royal Dutch Shell for $6.65 billion. Repsol and its largest investor, CaixaBank, as well as the Spanish government all approved of Temasek and Sinopec as potential investors, the report said.

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