KEY POINTS
- Shell is considering selling a minority stake in its $24 billion North West Shelf LNG facility.
- Early talks involve Adnoc’s XRG arm, Midocean Energy, and other interested investors.
- Negotiations are preliminary, and no deal has been finalised yet.
Shell Plc is in preliminary discussions with several companies, including a unit of Abu Dhabi National Oil Co., about selling a minority interest in its A$34 billion ($24 billion) liquefied LNG facility in Western Australia.
Sources familiar with the matter say negotiations remain at an early stage and no final decisions have been made.
Key Investors in Shell Showing Interest
Among the parties involved is Adnoc’s investment arm, XRG, as well as Midocean Energy LLC, which counts Saudi Aramco as one of its investors. Insiders note that additional bidders are also monitoring the opportunity.
The stake under review relates to the North West Shelf project, one of Australia’s most significant gas export operations. The talks are confidential, and the sources requested anonymity because discussions are not public.
