LONDON-- U.K. gas supplier Centrica PLC (CNA.LN) is selling its entire portfolio of gas assets in Trinidad and Tobago to Shell Exploration and Production for an initial $30 million in cash.

Centrica will receive further payments if project targets at the assets are met, it said Wednesday, adding that the divestment is in line with Centrica's strategy to focus its exploration and production activity in the UK, Netherlands and Norway.

Shares at 1204 GMT, up 2 pence, or 1.1%, at 212 pence valuing the company at GBP11.5 billion.

-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

November 30, 2016 07:23 ET (12:23 GMT)

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