Shell to sell Australian gas stake to Abu Dhabi's XRG for $1.45bn

✦ Meridian Analysis

Shell has signed an agreement to sell its Australian gas stake to Abu Dhabi‑based XRG for US$1.45 billion. The deal is a straightforward asset divestiture: Shell, the Anglo‑Dutch oil major, is exiting a mature gas portfolio, while XRG is acquiring the interest outright. No details on the specific assets, the percentage of the stake, or the financing structure have been disclosed, and the parties have not identified advisers. The transaction will close subject to the usual Australian regulatory clearances, after which XRG will become the direct owner of the gas assets. What remains undisclosed are the exact valuation multiples, the composition of any debt or equity financing that may accompany the purchase, and the identities of legal and financial advisers. Observers will be watching for the timeline of Australian antitrust and foreign‑investment approvals, as well as any subsequent moves by Shell to redeploy the proceeds, which could shape its next round of portfolio optimisation.

The Meridian Weekly