ConocoPhillips has closed its sale of Trinidad & Tobago Holdings LLC (TTH) for $600 million. TTH is a wholly owned subsidiary of the National Gas Company of Trinidad & Tobago (NGC).
“The sale of this noncore, midstream asset represents further progress in strengthening and focusing the ConocoPhillips portfolio, and advances the strategic interests of both NGC and ConocoPhillips,”
said Don Wallette, executive vice-president, commercial, business development, and corporate planning.
The estimated gain after tax for ConocoPhillips is $290 million for the sale of TTH.