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Asda acquires EG Group’s 350 petrol stations in a $2.82bn deal
British supermarket chain Asda plans to acquire all operations of retailer EG Group in the UK and Ireland, including 350 petrol filling stations (PFS), in a £2.27bn deal. Following the deal, Asda plans to invest around $186m in the next three years to fully integrate the “combined business” while EG Group would retain around 30 PFS sites in the UK. Asda’s shareholders TDR Capital LLP and US-based retailer Walmart have provided an estimated $558m of additional equity to fund the deal.
Air Products signs $1bn deal for gas processing facility in Uzbekistan
US-based industrial gases company Air Products has signed a $1bn deal to purchase a natural gas to syngas processing plant in Uzbekistan. The plant is part of government-backed energy company Uzbekneftegaz’s gas to liquid (GTL) facility and is reported to have a production capacity of 1.5 million tonnes per annum.
QatarEnergy and Bangladesh’s Petrobangla to sign LNG deal
QatarEnergy is set to sign a long-term agreement to supply LNG to Bangladesh’s state-owned gas company Petrobangla, reported Reuters. Petrobangla chairman Zanendra Nath Sarker told the news agency that QatarEnergy would supply two million tonnes (mtpa) of LNG annually from the North Field expansion project.
ConocoPhillips to acquire TotalEnergies’ stake in Surmont oil sands project
ConocoPhillips has agreed to acquire a 50% stake in the Surmont oil sands project in Canada from TotalEnergies for up to $3.32bn. The deal consideration includes $3bn in cash and additional conditional payments of up to $325m for a non-operated stake in the asset and related logistics commitments.