Fuel / NEWS UPDATE
Shell Sells North West Shelf LNG Stake to Abu Dhabi's XRG for $1.45 Billion
Published · 1 min read
Shell is selling its 16.67% non-operated interest in the North West Shelf LNG project in Australia to XRG, an Abu Dhabi-based company, for $1.45 billion.
This sale, part of Shell's strategy for disciplined capital allocation, will allow the company to exit the Woodside-operated project after 40 years while maintaining other Australian operations. XRG aims to strengthen its position in the international gas market, particularly in Asia-Pacific.