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Market Chatter: Adnoc Unit XRG Targets Piece of Shell-led LNG Canada JV

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Emirati energy investment company XRG is in talks with Chinese oil and gas producer PetroChina and other partners in the LNG Canada joint venture for a potential stake purchase, Bloomberg News reported Tuesday, citing people familiar with the matter.

The liquefied natural gas export project is led by oil and gas major Shell (SHEL.L, SHELL.AS) with a 40% shareholding. Additionally, PetroChina and Mitsubishi Corp. each own a 15% interest, while Malaysia's Petroliam Nasional, or Petronas, and Korea Gas Corp., or Kogas, hold stakes of 25% and 5%, respectively.

The discussions with Abu Dhabi National Oil Co., or Adnoc, unit XRG may not result in a deal, the sources said. Shell and LNG Canada declined to comment, while XRG and PetroChina did not immediately reply to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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