Business · Companies · 18 hrs ago
Shell agrees to sell Australian gas stake to Abu Dhabi’s XRG for $1.45bn
Shell has agreed to sell its stakes in an Australian natural gas project to XRG, an energy investment arm of Abu Dhabi’s state oil producer.
XRG has agreed to pay $1.45 billion for the stakes.
Shell is an Anglo-Dutch oil major, and the sale is part of its strategy to shed mature assets.
For XRG, the purchase is part of a series of deals aimed at expanding its global investments.
The project’s name and the size of Shell’s stake were not provided.
The sources say XRG has agreed to buy the stakes, but do not give a completion date or further steps.
XRG agreed to buy Shell Plc’s stakes in an Australian natural gas project for $1.45 billion.
XRG is the energy investment arm of Abu Dhabi’s state oil producer.
The deal is part of a series of transactions as XRG seeks to expand around the world.
The sale is part of Shell’s strategy to shed mature assets.
- Who
- XRG and Shell Plc.
- What
- XRG agreed to buy Shell’s stakes in an Australian natural gas project for $1.45 billion.
- When
- November 3, 2026.
- Where
- An Australian natural gas project; the project’s name is not stated.
- Why
- XRG is seeking to expand around the world, while the sale is part of Shell’s strategy to shed mature assets.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Buyer
- XRG
- Seller
- Shell Plc
- Price
- $1.45 billion
- Project location
- Australia
- Agreement reported
- November 3, 2026