Shell’s $1bn Abadi divestment process struggles after Sinopec’s interest wanes

Shell has failed to generate any significant interest in the sales process for its share of the giant Abadi LNG project one year after the Indonesian government announced the Anglo-Dutch supermajor’s intention to divest.

Shell’s 35% stake in the Masela Block offshore Indonesia is valued at $800 million to $1 billion, data from Rystad Energy shows. But, despite the block’s proximity to Asian demand markets, it is proving tough to find buyers for one of the world’s largest undeveloped gas resources.