XRG Secures Agreement For $1.45Bn Australian LNG Stake Arabian Post
Arabian Post Staff -Dubai
Abu Dhabi's XRG has agreed to acquire Shell's 16.67 per cent interest in Australia's North West Shelf liquefied natural gas project for $1.45 billion, marking its first investment in the country's LNG industry.The agreement, announced on Tuesday, covers Shell Australia's non-operated holding in the Woodside Energy-managed development in Western Australia. The base purchase price is subject to customary adjustments, with an additional payment dependent on specified milestones, the companies said.
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