Abu Dhabi’s XRG in $2.1b deal to buy Shell out of North West Shelf

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.

Shell agreed to sell its 16.67% stake in Australia's North West Shelf project to ADNOC's XRG for $1.45 billion, with additional payments tied to milestones.

Blackstone and Canadian pension funds will invest $3.1 billion to buy 49.9% of Mitsubishi Corp.'s stake in LNG Canada. Mitsubishi retains 15% of the LNG export plant, which is expanding capacity to 28 million tonnes per year. LNG Canada is a $40 billion project led by Shell, with other partners including Petronas, PetroChina, and Korea Gas.

Shell signed a long-term agreement with Green Sky Manara to buy 150,000 tonnes/year of sustainable aviation fuel (SAF) from a new plant in Morocco, starting in 2028. The deal aligns with Shell's strategy to provide low-carbon fuels and build resilient supply chains, according to the company.

Shell signed a long-term deal with Green Sky Manara to buy 150,000 tonnes/year of sustainable aviation fuel (SAF) from a Moroccan facility starting in 2028. The $239M project, partly financed by EBRD, will use waste-based materials and create jobs. Shell aims to expand its low-carbon fuel supply.

Blackstone and Canadian institutional investors (CPP Investments, OMERS, IMCO, PSP Investments) acquired a 49.9% stake in a Mitsubishi unit holding 15% of LNG Canada for $3.1B. This follows LNG Canada's decision to proceed with Phase 2, doubling its liquefaction capacity. Shell, with a 40% interest, will gain additional LNG supply. Mitsubishi's stake is diluted but maintains LNG offtake volumes and customers.