Shell has signed an agreement with Finnish ST1 for the sale of its Norwegian station network and other divisions.
102 years on the market will end up with a brand license agreement.
Additional to 420 petrol stations, the industrial and marine markets (Commercial Fuels) as well as transport and supply (department Supply & Distribution) are also part of the deal.
Shell aviation fuel business (Aviation) in Norway will be a 50/50 Joint Venture with ST1.
The sale needs regulatory approval and is expected to be completed during 2015.
Shell brand, quality fuel and other products will continue to be used in petrol stations and EuroShell card will also still be available for customers.
”We have a long and proud history in Norway and it was with the distribution and sale of fuel that Norwegian Shell started 102 years ago. Although this is a sad day in many ways, I strongly believe that our employees who are affected by sales has an exciting future ahead of it, and that the change in ownership will open up new opportunities,” says Tor Arnesen, CEO of A / S Norwegian Shell.
Other Shell operations in Norway, as Gassnor and upstream activities (exploration and production) will not be affected by the sale, and will continue to operate as before.
The sale is in line with Shell’s global strategy to concentrate its downstream operations where it can be most competitive in the long term.
Until the sale is completed, Shell will continue to operate its downstream operations in Norway.