EL7.AI
Mergers & AcquisitionsMedium•3 November 2026•
1 min read

Shell Sells North West Shelf Stake to ADNOC's XRG for $1.45 Billion

Key Facts

1Shell has agreed to sell its interest in the North West Shelf LNG project to ADNOC's subsidiary XRG.
2The total value of the transaction is approximately $1.45 billion.

Shell has agreed to sell its interest in the North West Shelf LNG project to XRG, a subsidiary of ADNOC. Reuters reported that the total value of the transaction is approximately $1.45 billion. The sale is part of Shell's ongoing strategy to high-grade its portfolio and focus on core assets, while ADNOC continues its international expansion in the LNG sector.

SHEL closed at $104.94 on November 2, 2026, with a session high of $107.13 and a low of $104.75. This divestment aligns with broader industry trends of portfolio optimization among energy majors seeking to streamline operations and enhance cash inflows.

The Balance of Trade for Australia is scheduled for release on November 5, 2026. This upcoming economic data point may influence the broader trade and energy export outlook for the region where the North West Shelf project operates.

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