Shell Sells North West Shelf LNG Stake to Abu Dhabi's XRG for $1.45 Billion

Shell is selling its 16.67% non-operated interest in the North West Shelf LNG project in Australia to the United Arab Emirates’ XRG for US$1.45 billion as part of its strategy to disciplined capital allocation and portfolio choices. Shell on Tuesday announced that its wholly-owned subsidiary Shell Australia Pty Ltd has signed an agreement to sell its 16.67% non-operated interest in the North West Shelf (NWS) project to wholly owned subsidiaries of XRG for a base consideration of US$1.45 billion, subject to customary adjustments, plus an additional…