The British oil and gas company Shell Plc is considering the possibility of selling a stake in the North West Shelf LNG venture with a total value of 34 billion Australian dollars ($22 billion) in Western Australia. This is reported in a press release from Shell.
Under the proposed deal, the value of a 16.67% stake in North West Shelf, Australia's largest LNG plant, could exceed $3 billion. Woodside Energy Group is the operator of the project.
The decision to sell assets on the northwestern shelf of Australia is related to the planned transition to a third-party payment collection system, in which buyers must pay for gas liquefaction, which, from the company's point of view, does not correspond to its strategy.
Shell management stated that "the company regularly evaluates its portfolio in order to allocate capital efficiently and intends to continue to cooperate with partners on the north-western shelf." In 2023, Shell sold a stake in the Browse LNG project aimed at supplying gas to the coast of Western Australia.
At the end of 2024, Chevron Corp. She sold a stake in the project to Woodside Energy Group Ltd., which received a 50% stake in the company as a result of the transaction. Woodside, as the operator of the Northwest Shelf project, is consolidating assets to continue operating the country's oldest and largest field.
Shell plc is a British multinational oil and gas company with headquarters in London (England). Shell shares are listed on the London Stock Exchange (LSE), Euronext in Amsterdam and the New York Stock Exchange.
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