The project is a world-scale integrated LNG asset
XRG has announced it has entered into an agreement to acquire Shell’s interest in the North West Shelf project in Western Australia, for US$ 1.45bn, subject to regulatory approvals and customary closing conditions.
The acquisition represents XRG’s first investment in Australian LNG and a significant milestone in the company’s international gas growth strategy. It would establish a strategic position for XRG in close proximity to demand growth in the Asia-Pacific region, providing access to world-scale LNG infrastructure and equity LNG supply from one of the industry’s most established energy projects.
Defining role
For more than four decades, the North West Shelf Project has played a defining role in Australia’s economic development as the country’s first LNG project. The asset has supported domestic energy supply, jobs, international trade, and Australia’s emergence as a leading global energy exporter.
“The North West Shelf combines immediate production, strategic infrastructure, and future upstream development opportunities, making it a strong fit with our long-term ambitions,” stated Mohamed Al Aryani, President, XRG International Gas.
XRG believes the North West Shelf can continue to play a key role in supporting both domestic and export gas supply for decades to come, a press statement concluded.
