A Review of the Nigerian Energy Industry

Repsol ‘denies plans to sell Gas Natural’

24 September 2015, News Wires – Spanish giant Repsol denied reports that it is considering the sale of part or all of its stake in Gas Natural.

RepsolA company spokesman was quoted by Reuters as saying that Repsol “is not studying any stake sale” in Gas Natural.

Repsol owns a 30% stake in the Spanish natural gas distributor that is valued at about €5.2 billion euros ($5.9 billion).

Bloomberg had previously reported that a full or partial sale of its stake could come as soon as this year.

Options include selling shares in the market and finding partners to join Gas Natural’s shareholder structure, Bloomberg reported.

Repsol is thought to be marketing the Gas Natural stake in an effort to reduce debt following its $13 billion purchase of Talisman Energy last year. The company may also be looking to sell assets in regions such as Venezuela, Alaska, Bolivia and the Gulf of Mexico, according to Bloomberg.

Repsol expects to present its 2016-2020 strategic plan on 15 October.

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