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Market Chatter: UAE's XRG Consortium Eyes Shell's AU$2 Billion Stake in Woodside's LNG Project

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-- The United Arab Emirates-based XRG consortium, a joint venture between Abu Dhabi's state-owned oil and gas major ADNOC and US-based Carlyle, is said to be mulling Shell's AU$2 billion sale of its stake in Woodside Energy Group's (ASX:WDS) North West Shelf liquefied natural gas (LNG) project, according to a Thursday report by The Australian.

Woodside has a 33% stake in the joint venture and is its operator, while Shell, Chevron, and BP, along with Mitsui and Mitsubishi, hold the remaining stakes.

An XRG spokesperson said that it had a long-term outlook, prioritizing "patient capital" in order to build a global gas business, the report added.

(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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