Shell agrees to sell North West Shelf LNG stake to XRG for $1.45 billion
Shell agreed to sell its 16.67% non-operated interest in Australia's North West Shelf LNG project to ADNOC subsidiary XRG for $1.45 billion.
By TomorrowNews · AI-assisted briefing · Briefing published 4 November 2026
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Reuters reported that the transaction would give XRG its first Australian asset. The price includes a base consideration plus a milestone-linked contingent payment, and XRG will assume the interest's decommissioning obligations.
The companies expect the sale to close in 2027. The Woodside-operated project is one of Australia's largest LNG export facilities and is shifting toward more third-party gas as production from legacy fields declines.
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