Company Movehigh confidence
XRG to Buy Shell Stake in Australian LNG Project
www.rigzone.com · November 3, 2026 · Week 2026-45
Summary
ADNOC-linked entity XRG has agreed to acquire Shell's 16.67% stake in Australia's North West Shelf LNG project. This acquisition represents a significant expansion of the Emirati NOC's international gas portfolio, securing a foothold in a mature, producing asset as part of its global growth strategy.
Strategic Implication
The deal underscores ADNOC's strategy to rapidly expand its global LNG market share through acquisitions of stakes in established, long-life projects, positioning it as a key player beyond the MENA region.