Shell to Sell 16.67% Interest in Australian LNG Project for at Least $1.45 Billion

01:19 AM EST, 11/03/2026 (MT Newswires) -- Shell (SHEL.L, SHELL.AS) agreed to divest its 16.67% non-operated interest in the North West Shelf liquefied natural gas and domestic gas project in Australia for a base consideration of $1.45 billion. The energy giant said Tuesday that its Shell Australia subsidiary is selling the interest to international energy investment company XRG. Aside from the base consideration, it will also receive milestone-linked contingent payments from the sale. The deal covers associated upstream interests, pipeline and midstream infrastructure, as well as participating interests in related petroleum and pipeline titles and other associated agreements. The buyer also agreed to take over decommissioning and security obligations as part of the transaction. Completion is expected in 2027, subject to regulatory approvals, among other preceding conditions.