Shell to buy Mozambican Energy Company
The Anglo-Dutch oil company plans to be part of projects in the East African country to build plants to freeze the gas into liquefied natural gas (LNG) and ship it to Asian markets.
"As the number one LNG player, Shell absolutely must be in East Africa... we should assume that 8.5 percent is too small for them," said Irene Himona, oil analyst at Societe Generale. Shell said it had a "firm intention" to make a 195 pence per share cash bid, which Cove's directors said on Wednesday they would recommend to shareholders
