Shell Plc’s $15 Billion LNG Canada Prize Draws Wall Street Bidders After Export Record
LNG Canada exported over 1 million metric tons of liquefied natural gas in April, its first month above that level. Apollo, Blackstone, and KKR are bidding for a Shell stake in the project, with offers expected to exceed $10 billion. Shell agreed April 27 to buy ARC Resources, adding 370,000 barrels of oil equivalent per day to its portfolio. All April LNG Canada cargoes went to Asia, mostly South Korea and China.