Shell to sell 16.67% North West Shelf stake to XRG for $1.45B

ADNOC's investment arm, XRG, will buy Shell's (SHEL) stake in an Australian LNG plant for $1.45B, expanding its global energy portfolio.

Abu Dhabi's XRG will buy Shell's 16.67% stake in the North West Shelf LNG project for $1.45B, with the deal expected to close in 2027. Shell will receive additional payments and XRG will assume decommissioning obligations. The project is operated by Woodside and includes other major energy companies.

Shell is selling a 16.67% stake in the Australian North West Shelf LNG project to Abu Dhabi National Oil Company's XRG for $1.45 billion. The deal gives XRG access to a facility with 14.3 million tonnes annual capacity, supporting its goal to become a top 5 LNG supplier. Shell plans to transition the asset to a third-party tolling model.

Shell Aviation signed a long-term agreement to buy SAF from Green Sky Manara LLC's proposed Morocco biorefinery, expected to produce 150,000 tonnes annually. The facility, using HEFA technology, will also produce renewable diesel and bio-based products, starting operations in late 2028. This expands Shell's partnership with Green Sky Capital, which includes a similar agreement for a biorefinery in Egypt.

Shell (SHEL) sold a 16.67% stake in Australia’s North West Shelf LNG project for $1.45B, targeting 4-5% annual LNG sales growth through 2030. It signed a 5-year LNG supply deal with Metlen Energy and a sustainable aviation fuel agreement in Morocco. Shell also announced a share buyback program.

Shell agreed to sell its 16.67% stake in Australia's North West Shelf LNG project to ADNOC's XRG for $1.45 billion, with an additional milestone-linked payment. The deal is expected to close in 2027 as Shell focuses on higher-return opportunities. Shell plans to grow LNG sales by 4-5% annually until 2030.