Shell plans to sell $3 billion stake in Australian liquefied natural gas plant.

According to sources, Shell Group is considering selling its stake in the liquefied natural gas export plant on the northwestern shelf of Western Australia, with a total value of 34 billion Australian dollars. The sources mentioned above stated that this energy giant is looking for potential buyers for its 16.67% stake in the project, which could be worth over 3 billion US dollars. As the sources were not authorized to speak to the media, they requested anonymity. Despite Shell's belief that global demand for natural gas will grow rapidly in the coming decades, leading to increased investment in liquefied natural gas business worldwide, the company still plans to exit the North West Shelf project because the plant is set to be transformed into a so-called "third-party processing fee facility." The sources claimed that this operating model is not aligned with Shell's broader strategic positioning and asset portfolio.