XRG to Acquire Shell's Interest in North West Shelf LNG Project
- XRG will acquire Shell's interest in the North West Shelf project for $1.45 billion, subject to regulatory approvals and customary closing conditions.
- The North West Shelf holds 14.3 mtpa of liquefaction capacity and about 4.4 Tcfe of remaining resources.
- The transaction is XRG's first investment in Australian LNG and is intended to position the company near Asia‑Pacific demand growth.
- XRG cites continued investment to support domestic gas supply, regional energy security, job creation, and long‑term export and domestic roles.
Deal terms
XRG has agreed to buy Shell's interest in the North West Shelf project for $1.45 billion, subject to regulatory approvals and customary closing conditions. The acquisition is described as XRG's first investment in Australian LNG and a milestone in its international gas growth strategy.
Asset profile
The North West Shelf is a world‑scale integrated LNG asset with 14.3 mtpa of liquefaction capacity and approximately 4.4 Tcfe of remaining resources. For more than four decades the project has been foundational to Australia's LNG industry and economic development.
Strategic rationale
XRG says the purchase provides access to large LNG infrastructure and equity LNG supply from an established project, placing the company in close proximity to demand growth across the Asia‑Pacific region and aligning with its strategy to build an international gas business.
Domestic and regional impacts
The company states continued investment in the North West Shelf can help sustain domestic gas supply, strengthen regional energy security, create jobs, and deliver lasting economic benefits for Australia while supporting both export and domestic gas supply for decades.
Source: XRG