ADNOC’s XRG to acquire Shell’s Australian LNG plant stake for $1.45B (SHEL:NYSE)

Shell plc has agreed to sell its 16.67% stake in the North West Shelf project to XRG P.J.S.C. for $1.45 billion, with an additional contingent payment. The sale, expected to close in 2027, aligns with Shell's strategy to focus on integrated gas investments. The NWS project is a LNG and domestic gas development in Western Australia.

Shell agreed to sell its 16.67% stake in Australia's North West Shelf gas project to ADNOC's XRG for $1.45B, with potential additional payments. The deal includes decommissioning obligations and is expected to close in 2027. Shell aims to reinvest in higher-return assets, while the project continues operations until 2070. The sale reflects Shell's strategy to focus on growth in LNG sales.

Shell PLC agreed to sell its 16.67% stake in the North West Shelf (NWS) LNG project to ADNOC's XRG PJSC for at least $1.45B, with additional payments. Shell aims to focus on integrated gas investments. The deal is subject to regulatory approvals and expected to close in 2025. NWS has a liquefaction capacity of 14.3 MMtpa. Woodside Energy Group Ltd is involved in related transactions and infrastructure planning.

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.