Shell Plc’s $15 Billion LNG Canada Prize Draws Wall Street Bidders After Export Record
Shell Plc’s LNG Canada project hit a new milestone in April, moving past 1 million metric tons of liquefied natural gas exports as heavyweight investors eye a piece of the Shell-led operation. Liquefied natural gas, or LNG, is created by chilling gas until it becomes a liquid, allowing shipment by tanker. Shell faces a delicate balancing act: it's looking to unload parts of its portfolio for cash, even as it moves to secure more North American gas. Apollo Global Management, Blackstone, and KKR are the last firms standing in the bid for a major stake in LNG Canada, a deal Reuters said could fetch Shell upwards of $10 billion—maybe as much as $15 billion, according to three sources familiar with