Shell $4.4 Billion Repsol LNG Deal Adds Latin America Supply

Royal Dutch Shell Plc, the world’s largest supplier of liquefied natural gas, agreed to buy LNG assets from Repsol SA for $4.4 billion in cash to expand in Latin America and Spain.

The deal, which helps the Spanish oil company avoid a credit-rating downgrade to junk, gets Shell export capacity in Peru as well as in Trinidad and Tobago, The Hague-based company said yesterday. Shell will take over financial leases and assume debt, bringing the transaction’s total value to $6.7 billion. Repsol’s Canaport terminal in Canada, which imports gas into North America, was not sold.