Shell to divest North West Shelf stake to XRG for $1.5bn

Shell is set to exit the North West Shelf (NWS) venture in Western Australia after agreeing to sell its 16.67% non-operated stake to XRG for $1.45bn.

The base consideration is subject to standard post-signing adjustments, with a further contingent sum payable upon the achievement of specified milestones.

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Wholly owned subsidiaries of XRG, a UAE-headquartered energy investment group active across natural gas, chemicals and energy solutions, will serve as the acquiring entities.

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