Shell US Gas & Power sells its stake in Enterprise Products
Sept. 15, 2003
Shell US Gas & Power LLC, an affiliate of the Royal Dutch/Shell Group, sold its 30% interest in Enterprise Products GP LLC, the general partner of Enterprise Products Partners LP.
By OGJ editors HOUSTON, Sept. 15 -- Shell US Gas & Power LLC, an affiliate of the Royal Dutch/Shell Group, sold its 30% interest in Enterprise Products GP LLC, the general partner of Enterprise Products Partners LP. Terms of the transaction were withheld.
Shell sold its interest to an affiliate of Enterprise Products Co., and affiliates of that entity now own 100% of the general partner. The sale is part of the Royal Dutch/Shell Group's ongoing portfolio rationalization.
Shell and Enterprise have joint interests in five Gulf of Mexico pipeline systems, and Enterprise facilities process most of Shell's natural gas production in the Gulf of Mexico.
"Our commercial relationship with Enterprise Products Partners has been mutually beneficial, and we will continue to explore opportunities to extend that relationship," said Gus Noojin, Shell US Gas & Power president and CEO.
