Shell is in negotiations with Middle Eastern capital to sell its stake in the Northwest Australian Continental Shelf LNG project

K-LinePoet · 2026-03-16T13:41:42+00:00

Shell is in negotiations with multiple companies to sell a minority stake in its A$34 billion Northwest Shelf natural gas project in Western Australia. Competing bidders include ADNOC and Midocean Energy. Discussions regarding the stake sale are in their preliminary stages, with Shell actively evaluating assets to support capital allocation.

K-LinePoet

2026-03-16 13:41:42

Abstract generation in progress

Sources say Shell is in negotiations with several companies, including entities under Abu Dhabi National Oil Company (ADNOC), to sell a minority stake in its Northwest Shelf natural gas export project valued at AUD 34 billion (approximately USD 24 billion) located in Western Australia. According to insiders, discussions with bidders such as ADNOC’s investment arm XRG and Midocean Energy, which is partially owned by Saudi Aramco, are still in the early stages. Other potential buyers are also interested. Shell has been increasing its investments in liquefied natural gas. However, media reports from September last year indicated that, as the facility plans to transform into a so-called third-party tolling plant, Shell is considering selling its 16.67% stake in the Northwest Shelf project. A spokesperson stated that Shell regularly reviews its asset portfolio to support prudent capital allocation. We continue to work closely with our Northwest Shelf project partners to create value, maximize future performance, and meet customer needs.

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