Abu Dhabi’s XRG to acquire Shell’s stake in Australian LNG project
In short
Abu Dhabi-based energy company XRG has arranged to take over Shell’s existing position in an Australian liquefied natural gas venture. Through this agreement, the global energy major will transfer its specific interest directly to the acquiring firm. Commercial specifics and the exact assets included in the transfer remain undisclosed by both parties.
Key points
- Shell is divesting its stake in the Australian liquefied natural gas project to Abu Dhabi…: Shell is divesting its stake in the Australian liquefied natural gas project to Abu Dhabi's XRG.
- The energy major's venture interest will move directly under the control of the Abu Dhabi…: The energy major's venture interest will move directly under the control of the Abu Dhabi entity.
- The complete valuation and individual asset breakdown of the transaction currently remain…: The complete valuation and individual asset breakdown of the transaction currently remain entirely confidential.