Shell sells Australian gas and LNG stake for $1.45 billion

· Oil & Gas · Australia · United Arab Emirates

Shell is exiting part of a Woodside-operated LNG and gas development in Western Australia, with ADNOC's XRG buying the stake. Shell will receive $1.45 billion from the sale. The transaction places a Gulf national oil company's investment arm on the buyer's side of an Australian upstream and LNG asset, while Shell continues to reshape its portfolio. The deal adds to a recent run of portfolio moves by major oil companies, which have prioritized balance-sheet discipline and selective asset sales over new spending even as profits hold up. For Woodside, the operator of the project, the change brings a new partner with Gulf capital into the venture.

Why it matters：Gulf capital buying into Australian LNG while a European major trims its portfolio reflects the broader reshuffling of upstream ownership among majors and national oil companies.

Key points

  • Shell receives $1.45 billion for the stake.
  • The asset is a Woodside-operated LNG and gas development in Western Australia.
  • ADNOC's XRG is the buyer.

Sources (original reporting)

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