Temasek and Sinopec Possible Buyers of Gas Natural

nyc_realestate_sovereignwealthfundSingapore sovereign wealth fund Temasek Holdings and Chinese oil company Sinopec expressed interest in Repsol’s stake in Gas Natural SDG, S.A. The Spanish oil company has a 30% total interest worth €4.7 billion in Gas Natural. Repsol wants to sell a 24% interest – the other 6% is held as an indirect stake.

Fortunately for Temasek Holdings, they are a strategic investor in Repsol, currently holding a 6.3% stake. Temasek Holdings is a major investor in liquefied natural gas companies – going so far as to create a specialized entity called Pavilion Energy. Pavilion energy focuses on the LNG value chain in order to ensure long term supply.

In October 2010, Repsol and Sinopec inked a milestone agreement to develop the projects of Repsol Brasil, a Brazilian subsidiary of Repsol. The increase in capital was allocated to boost capital investment in Brazil’s offshore oil fields.

Gas Natural’s two major investors are Repsol and La Caixa, a Spanish bank. La Caixa has a 34% stake in the utility. The domestic gas distributor has operations in Spain and parts of Latin America. According to Gas Natural’s investor presentation, 43% of their first half 2013 EBITDA comes from international operations.

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