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Shell buys Morgan Stanley's Europe gas and power trade book

Staff writer ▼ | July 13, 2015
Royal Dutch Shell has acquired Morgan Stanley's European gas and power trading book as the U.S. bank continues its exit from the sector.
Royal Dutch Shell
Acquisition   Shell is set to increase its presence in the gas market
Shell is set to significantly increase its footprint in the gas market in the coming years if it completes its proposed $70 billion acquisition of smaller British rival BG Group and as part of a growing strategic alliance with Russia's Gazprom, the world's top gas producer.

Shell Energy Europe, its supply and trading arm in the region, has signed a binding sales and purchase agreement for Morgan Stanley's portfolio, the Anglo-Dutch company said, without providing further details.