Shell plans to sell pipeline business

A unit of Royal Dutch/Shell Group today said it plans to sell its Gulf of Mexico natural gas pipeline business as part of the company's portfolio restructuring plans.

Shell US Gas & Power LLC said it plans to sell its Gulf of Mexico natural gas pipeline business unit, Shell Gas Transmission LLC.

The unit owns or has an interest in 17 Gulf of Mexico natural gas pipelines in operation or under construction.

The assets for sale are in the western, central and eastern segments of the Gulf. Not included are some pipelines that serve Shell production facilities, the company said in a statement.

An information memorandum for prospective buyers will be issued in May, and the sale of the assets is expected to be completed by year-end 2004.