Shell sells stake in Woodside-operated Australian gas and LNG project for $1.45 billion

· Energy · Australia · United Arab Emirates

Shell is exiting a stake in a Woodside-operated gas and LNG development in Western Australia, raising $1.45 billion from the sale. ADNOC's XRG is the buyer. The transaction moves a major international oil company out of an Australian upstream and LNG position while a Middle Eastern national oil company's investment arm steps in, extending a pattern of portfolio reshuffling in global gas. The deal value and the identity of both parties were disclosed in reports on the sale.

Why it matters：It illustrates how Middle Eastern national oil companies are buying into LNG assets that Western majors are shedding, shifting ownership of global gas supply toward state-backed players.

Key points

  • Shell raised $1.45 billion from the sale
  • Buyer is ADNOC's XRG
  • The project is a Woodside-operated gas and LNG development in Western Australia

Sources (original reporting)

More stories from this day