Shell Sells North West Shelf LNG Stake to Abu Dhabi's XRG for $1.45 Billion
The $1.45 billion deal gives XRG access to a facility that can liquefy 14.3 million tonnes of gas a year, Shell said.
- On Tuesday, Shell Australia Pty Ltd signed an agreement to sell its 16.67% interest in the North West Shelf project to XRG, a subsidiary of Abu Dhabi National Oil Company, for US$1.45 billion.
- Shell's decision reflects disciplined capital allocation as the North West Shelf transitions toward a third-party toll-processing model, ending the company's involvement in the Woodside Energy-run venture after more than 40 years.
- XRG gains access to a facility with capacity to liquefy 14.3 million tonnes of gas annually, advancing its goal to build a leading international gas business serving the Asia-Pacific region.
- Despite exiting the North West Shelf, Shell maintains a strong Australian presence through the Shell QGC project, which supplies around 15% of east coast gas, alongside Prelude FLNG and interests in Arrow Energy and Gorgon.
- Companies in the Gulf, including Qatar, are acquiring assets worldwide to reduce exposure to disruptions in the Strait of Hormuz, heightening urgency for diversified global supply chains amid regional energy volatility.
14 Articles
14 Articles
Shell Sells North West Shelf LNG Stake to Abu Dhabi's XRG for $1.45 Billion
Shell is selling its 16.67% non-operated interest in the North West Shelf LNG project in Australia to the United Arab Emirates’ XRG for US$1.45 billion as part of its strategy to disciplined capital allocation and portfolio choices. Shell on Tuesday announced that its wholly-owned subsidiary Shell Australia Pty Ltd has signed an agreement to sell its 16.67% non-operated interest in the North West Shelf (NWS) project to wholly owned subsidiaries …
Abu Dhabi’s XRG Strategic Global Energy Investment Bolsters Economic Outlook and Property Market Confidence
Abu Dhabi energy group XRG is set to acquire Shell’s significant stake in a major Australian liquefied natural gas (LNG) project for $1.45 billion. This strategic move grants XRG access to 14.3 million tonnes of annual liquefaction capacity, fundamentally strengthening its operational footprint across Asia-Pacific markets. The acquisition underscores Abu Dhabi’s proactive approach to expanding […]
Coverage Details
Bias Distribution
- 80% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
