Hot on the heels of Italian energy giant Eni kick-starting a sale process for its $1 billion-odd portfolio of Australian gas assets, Royal Dutch Shell has given the green light to its own $US2.5 billion ($3.7 billion) cost of capital shootout.
The opportunity is a 26.25 per cent stake in infrastructure supporting the QCLNG gas project in Queensland including jetties, storage terminals and the like. And it is expected to catch the eye of some of the world's biggest asset managers.
Australia's IFM Investors is bankered up and ready for battle. But so too is Hong Kong's CKI Group, and tonight we reveal which US investment bank has been selected to help it prepare an indicative offer.
Deloitte emailed bidders on Sunday to tell them it could be another 24 hours before a shortlist for the auction's third and final round would be ready.