Shell sells minority QCLNG stake for $2.5 billion

Shell said on Monday it has agreed to sell a 26.25% stake in its Queensland Curtis LNG export plant to Global Infrastructure Partners Australia for $2.5 billion.

The Hague-based energy giant completed the sale via its unit QGC Common Facilities Company that operated the 8.5 mtpa QCLNG plant on Curtis Island.

Global Infrastructure Partners Australia is an affiliate of the US-based independent investment fund Global Infrastructure Partners.

Shell currently owns 100% of the QCLNG common facilities that include storage tanks, jetties and operations infrastructure that service the plant’s two trains.

Upon completion of the transaction, Shell will remain majority owner and operator of the facilities.

Furthermore, Shell also has partners in the plant. China’s CNOOC owns 50% equity in Train 1 and Japan’s Tokyo Gas has 2.5% equity in Train 2.

“This decision is consistent with Shell’s strategy of selling non-core assets in order to further high-grade and simplify Shell’s portfolio,” Shell said.

“The sale will contribute to Shell’s expected divestment proceeds, without impact on people or the operations of the QCLNG venture, and aligns Shell’s interest in the common facilities with its 73.75% interest in the overall QCLNG venture,” it said.

The transaction is subject to regulatory approval in Australia and customary conditions.

Additionally, Shell expects to complete the deal in the first half of 2021.

Most Popular

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

US FERC issues final SEIS for NextDecade’s Rio Grande LNG project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for NextDecade's Rio Grande LNG facility and the accompanying pipeline in Texas. FERC continues to conclude that approval of the projects would result in "less than significant impacts."

More News Like This

Fluor, JGC score FEED job for LNG Canada expansion

A joint venture of US engineer Fluor and Japan's JGC has been awarded the contract to update the front-end engineering and design (FEED) for a proposed Phase 2 expansion of the Shell-led LNG Canada project.

Shell CEO says LNG Canada ramp-up in line with expectations

LNG Canada's production ramp-up is "very much" in line with what Shell had expected, according to Shell CEO Wael Sawan.

Shell’s Q2 profit reaches $4.26 billion, LNG sales climb

LNG giant Shell reported a drop in adjusted earnings in the second quarter of 2025, while its LNG sales rose compared to the same quarter in 2024.

Shell takes FID on Egypt gas project

A unit of UK-based LNG giant Shell has taken the final investment decision for the development of the Mina West gas discovery in Egypt’s Mediterranean Sea.