XRG, the international investment arm of the Abu Dhabi National Oil Company (ADNOC), agreed on Tuesday to buy Shell’s 16.67% stake in Australia’s North West Shelf liquefied natural gas (LNG) project. The second day of ADIPEC 2026 in Abu Dhabi also brought a five-year LNG supply agreement between ADNOC Gas and TotalEnergies. The two ADIPEC 2026 LNG deals extend ADNOC’s gas business at a time when shipping through the Strait of Hormuz remains disrupted.
XRG takes a stake in Australia’s North West Shelf
Gulf News reported a price of $1.45 billion, about Dh5.3 billion, plus a contingent payment linked to milestones. The National put the value at $1.5 billion. The sale still needs regulatory approval, and Shell expects it to close in 2027. The buyers will take on a share of decommissioning obligations.
The North West Shelf has 14.3 million tonnes a year of liquefaction capacity and 4.4 trillion cubic feet equivalent of remaining resources. Its Karratha gas plant lies 1,260 km north of Perth, and most of its LNG goes to Japan, Gulf News reported. It is XRG’s first LNG asset in Australia.
XRG “understands the importance of balancing export success with local energy needs,” said Mohamed Al Aryani, President of XRG International Gas. XRG is wholly owned by ADNOC and reports an enterprise value above $150 billion.
ADNOC Gas signs five-year supply with TotalEnergies
ADNOC Gas signed an agreement to supply TotalEnergies with up to 1.6 million tonnes of LNG over five years. Gulf News reported that the two companies signed it on the sidelines of ADIPEC. Neither company disclosed a value or a start date. TotalEnergies is a shareholder in ADNOC Gas and is a partner in the Ruwais LNG project.
“Global demand for LNG continues to grow,” said Fatema Al Nuaimi, Chief Executive of ADNOC Gas. Stéphane Michel, President of Gas, Renewables and Power at TotalEnergies, credited ADNOC Gas’s “perfect location between Europe and Asia.”
The deal sits within ADNOC’s global LNG marketing and trading platform, launched in July. The platform pools LNG sales from ADNOC Gas and XRG with the trading desk of ADNOC Trading. It gives ADNOC Gas access to LNG from sources beyond its own plants. ADNOC aims to market 47 million tonnes of LNG a year beyond 2030. ADNOC Gas supplies about 60% of the UAE’s sales gas and serves customers in more than 20 countries, The National reported.
Ministers set out investment and supply plans
Paula Henao, Venezuela’s minister for hydrocarbons, told delegates on Tuesday that a partial reform of the hydrocarbon law “allows private participation in primary activities.” She said sanctions remain the main obstacle to large-scale investment. She also said Venezuela had signed 80 commercial agreements with international companies in the past year, The National reported. Most Venezuelan oil exports go to China and India, according to Rystad Energy figures cited by the paper.
On the opening day, Suhail bin Mohammed Al Mazrouei, the UAE Minister of Energy and Infrastructure, spoke on a ministerial panel. He said the UAE plans to invest Dh150 billion to Dh200 billion in its energy sector by 2030. That is about $41 billion to $54 billion. The money covers power generation, grids, storage and system operations. Clean energy supplied 32.4% of UAE electricity in 2025, against a target of 35% by 2031.
Al Mazrouei told Reuters that a new pipeline to Fujairah, which lies outside the Strait of Hormuz, will double crude export capacity there by next year. He said the UAE would invest in new export routes, overseas storage and shipping fleets. “If you are not prepared, you will pay 10 times,” he said.
What the LNG deals mean for India
India already buys LNG from ADNOC Gas. In January, ADNOC Gas signed a 10-year supply deal worth up to $3 billion with Hindustan Petroleum Corporation Limited (HPCL). HPCL is exhibiting at the Indian Pavilion this week. Natural gas is the main feedstock for nitrogen fertilisers such as urea, the most widely used fertiliser on Indian farms. The cost and security of LNG cargoes therefore feed into the cost of growing food. Al Mazrouei said on Monday that high prices would hurt demand over time, The National reported.
Our opening-day story covered the call by H.E. Sultan Ahmed Al Jaber for rebuilt energy security after nearly one billion barrels were drawn from global inventories.
Day two of ADIPEC 2026 moved ADNOC’s gas trade further beyond the Gulf. The Australian stake and the trading platform give ADNOC LNG that can reach Asian buyers, India among them, without passing through the Strait of Hormuz.
Sources: The National: XRG to buy Australian LNG stake; Gulf News: XRG buys Shell’s stake in North West Shelf; Bloomberg: XRG to buy Shell Australian LNG plant stake; Gulf News: ADNOC Gas five-year LNG deal with TotalEnergies; The National: ADNOC Gas to supply TotalEnergies; Energy Connects: ADNOC Gas signs LNG agreement with TotalEnergies; The National: Venezuela seeks more investment; Gulf News: UAE plans Dh200 billion energy investment; Arabian Post: UAE outlines Dh200 billion energy investment; Reuters via gCaptain: UAE to invest in new export routes; Khaleej Times: UAE to overhaul energy infrastructure; The National: UAE oil exports surpass prewar levels; The National: ADNOC sets up global LNG trading platform; Arabian Business: ADNOC Gas signs $3bn LNG deal with HPCL; Energy Connects: ADNOC Gas and HPCL sign 10-year LNG deal.
