Shell to sell North West Shelf stake to XRG for $1.45 billion
SHEL•Shell will sell its 16.67% non-operated interest in the Woodside-operated North West Shelf project to Abu Dhabi's XRG for $1.45 billion. The deal includes a milestone-linked contingent payment, and XRG will assume all decommissioning obligations; closing is expected in 2027.
1. Sale terms
XRG, an ADNOC subsidiary, will buy Shell's 16.67% non-operated stake in the North West Shelf project for $1.45 billion. Shell said the deal includes an additional milestone-linked contingent payment, and XRG will assume all decommissioning obligations. The sale is expected to close in 2027.
2. Project context
The North West Shelf is one of Australia's biggest liquefied natural gas export facilities and comprises interconnected joint ventures involving Woodside, Chevron, BP, Shell, CNOOC and Japan LNG. Woodside said it plans to shut a second train at the facility in 2027, as production declines from legacy fields and the project seeks more third-party gas until the Browse fields come online.
