Shell to sell 16.67% stake in Australia’s North West Shelf LNG project to ADNOC’s XRG
+1 new source since this summary was written
Shell agreed to sell its 16.67% interest in the North West Shelf LNG venture to Abu Dhabi National Oil Company’s XRG arm. The transaction price is reported as US$1.45 billion, with an additional milestone‑linked contingent payment. ADNOC said the deal gives it access to a plant capable of liquefying 14.3 million tonnes of gas per year. The sale is expected to close in 2027 as Shell shifts the asset to a third‑party tolling model.
Why it matters
Shell will receive cash to fund higher‑return projects and transition the asset to a tolling facility, according to the company’s statement. ADNOC gains capacity that supports its ambition to become a top‑five global LNG supplier, as noted in its press release.
Key facts
- 1Shell’s stake represents 16.67% of the North West Shelf project. aol.com
- 2The transaction price is US$1.45 billion. aol.com
- 3An additional milestone‑linked contingent payment will be made. businesstimes.com.sg
- 4The plant can liquefy 14.3 million tonnes of gas per year. businesstimes.com.sg
- 5The deal is expected to close in 2027. globalbankingandfinance.com
- 6ADNOC’s XRG said the purchase will give it greater access to Asia‑Pacific customers. businesstimes.com.sg
Open questions
- Material 1 reports a minimum consideration of US$2.08 billion, conflicting with the US$1.45 billion figure in other sources.
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.