Abu Dhabi's XRG to buy Shell's stake in Australian LNG project for $1.45bn
Abu Dhabi's XRG, owned by ADNOC, agrees to buy Shell's 16.67% stake in the North West Shelf LNG project for $1.45 billion, per Reuters. Closing is due in 2027.
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what happened
Abu Dhabi's investment firm XRG, wholly owned by state oil company ADNOC, has reached an agreement to take over Shell's 16.67% non-operated share in an Australian liquefied natural gas project. The price is $1.45 billion, according to Reuters.
Shell's statement says the stake covers upstream interests, pipelines and midstream infrastructure, plus various participations in related petroleum and pipeline titles, project contracts, offtake deals and joint ventures linked to CNOOC. Through the deal XRG gains access to 14.3 million tonnes per year of gas liquefaction capacity. It is the company's first Australian LNG investment, and last year a group it led dropped a $19 billion bid for gas producer Santos.
The transaction takes effect from 1 January 2026. Completion is expected in 2027, provided conditions are met and regulators sign off.
why it matters
For markets this is mainly a structural story: the asset changes hands, but closing is nearly a year away, so a direct effect on current gas prices is hard to see. XRG's enterprise value of more than $150 billion makes it a significant player in global gas, chemicals and energy solutions.
market impact
LNG and Shell shares: asset transfer with a 2027 closing, limited near-term price impact
tags
instruments
sources
- Abu Dhabi’s XRG agrees to acquire Shell's interest in Australia LNG project for $1.45bln — Reuters, 3 November 2026 at 08:43 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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