XRG today announced it has entered into an agreement to acquire Shell\u2019s interest in the North West Shelf project in Western Australia, for $1.45 billion, subject to regulatory approvals and customary closing conditions.<\/p>\n\n\n\n
The acquisition represents XRG\u2019s first investment in Australian LNG and a significant milestone in the company\u2019s 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\u2019s most established energy projects.<\/p>\n\n\n\n
For more than four decades, the North West Shelf Project has played a defining role in Australia\u2019s economic development as the country\u2019s first LNG project. The asset has supported domestic energy supply, jobs, international trade, and Australia\u2019s emergence as a leading global energy exporter.<\/p>\n\n\n\n
Mohamed Al Aryani, President of XRG International Gas, said, \u201cThe North West Shelf investment created Australia\u2019s LNG industry and continues to contribute to the nation\u2019s economy, energy security, and prosperity. We recognize its importance and are committed to its long-term success. This investment advances XRG\u2019s strategy to build a leading international gas business serving growing demand across Asia-Pacific. The North West Shelf combines immediate production, strategic infrastructure, and future upstream development opportunities, making it a strong fit with our long-term ambitions.\u201d<\/p>\n\n\n\n
He added, \u201cXRG understands the importance of balancing export success with local energy needs. We believe continued investment in the North West Shelf can help sustain domestic gas supply, support regional energy security, create jobs, and deliver lasting economic benefits for Australia.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
XRG today announced it has entered into an agreement to acquire Shell\u2019s interest in the North West Shelf project in Western Australia, for $1.45 billion, subject to regulatory approvals and customary closing conditions. The acquisition represents XRG\u2019s first investment in Australian LNG and a significant milestone in the company\u2019s international gas growth strategy. It would …<\/p>\n","protected":false},"author":7,"featured_media":67529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-67528","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/67528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=67528"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/67528\/revisions"}],"predecessor-version":[{"id":67530,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/67528\/revisions\/67530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/67529"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=67528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=67528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=67528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}