- Four international corporations are applying for the purchase Exxon Mobil Corp XOM Controlling interest in a liquefied natural gas (LNG) terminal off the coast of Italy.
- BlackRock, Inc BLACK, Igneo infrastructure partnerGerman asset manager IKAVand energy infrastructure group VTTIlinked to commodities trader Vitol and Australian infrastructure fund IFMwere shortlisted to buy the controlling stake in the terminal, Reuters reported quoted known sources.
- The deal could value the entire LNG terminal at almost 800 million euros ($881 million).
- Also read: What’s Happening to Exxon Mobil Stock Today?
- In March, Exxon began considering selling its majority stake in Adriatic LNG, Italy’s main regasification terminal, to divest non-core assets.
- The sale of Exxon has attracted interest from several infrastructure funds and multinationals, as they expect Italy to increase its LNG imports to partially replace the gas it used to get via pipelines from Russia.
- Exxon’s subsidiary ExxonMobil Italiana Gas holds a 70.7% stake in the terminal Qatar Energy subsidiary Qatar Terminal Company Limited at 22% and Italian gas network operator Snam SPA SNMRY at 7.3%.
- Price promotion: XOM shares were trading down 0.50% at $105.13 at last check on Friday.
- Photo via Wikimedia Commons
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