Shell offloads its stake in the Australian North West Shelf LNG project to UAE-based XRG for $1.45 billion, marking a strategic move to streamline its global asset portfolio.
Shell is divesting its 16.67% non-operated interest in the North West Shelf LNG project to XRG for $1.45 billion. This transaction is a direct execution of the company's strategic focus on disciplined capital allocation and portfolio optimization, allowing Shell to streamline its assets.
The base consideration for the 16.67% interest is US$1.45 billion.
The interest is being sold to wholly owned subsidiaries of the United Arab Emirates’ XRG.
Shell has agreed to sell its 16.67% non-operated interest in the North West Shelf LNG project to XRG for $1.45 billion. The transaction aligns with the energy giant's ongoing strategy to optimize its portfolio and maintain disciplined capital allocation.
The sale is part of Shell's strategic initiative to focus on disciplined capital allocation and refine its global asset portfolio.