San Miguel says 'interested' to acquire Shell's stake in Malampaya

ABS-CBN News

Posted at Sep 25 2020 12:46 PM

MANILA - San Miguel Corp said Friday it was "interested" to acquire Shell Philippines Exploration BV's stake in the Malampaya gas-to-power project. 

"We confirm that the Company is interested in acquiring the 45-percent stake of Shell Philippines Exploration B.V. in the Malampaya gas-to-power project, as confirmed by Mr. Ramon S. Ang, President and Chief Operating Officer of the Company," San Miguel Corp said in a disclosure to the stock exchange.

San Miguel was responding to an earlier Manila Standard report.

Shell Philippines Exploration B.V. on Wednesday said it was exploring options to sell its Malampaya stake as part of an "ongoing portfolio rationalization."

Malampaya is operated by Shell Philippines Exploration BV, together with two other joint venture partners.