Shell to Sell Stake in Australian LNG Project for $1.45 Billion

Shell has reached an agreement to transfer its 16.67% participating interest in Australia's North West Shelf LNG project to companies affiliated with XRG, a subsidiary of ADNOC. The transaction value was announced as $1.45 billion. The sale is expected to be completed in 2027. Upon completion of the transfer process, Shell's stake in the partnership structure of the LNG project will come to an end. The transaction is being evaluated within the scope of the energy company's portfolio management. North West Shelf is among Australia's leading liquefied natural gas projects. The buyer being companies under ADNOC subsidiary XRG reflects interest in energy assets in the region. Details regarding the financial closing conditions and regulatory approval processes of the agreement were not shared. This is not investment advice.