Royal Dutch/Shell and Bechtel Enterprises Holdings have agreed to expand the scope of their InterGen joint venture. The agreement will result in the transfer to InterGen of the majority of the natural gas pipeline, storage and power generation assets of Shell’s Coral Energy affiliate, based in the US.
InterGen will own a 30 per cent equity interest in Coral Energy, a natural gas and power marketer. Globally, the alignment will enable InterGen to leverage fuel supply and power marketing and trading. Bechtel will continue to be InterGen’s preferred provider of power generation engineering, procurement and construction services worldwide. By contributing these assets, Shell’s ownership in InterGen will increase to 68 per cent with Bechtel Enterprises owning the remainder.
In the United States the company intends to build a sizeable power generation portfolio, working closely with Coral. InterGen is operating or building a total of eleven power stations representing 7985 MWe.
