Shell acquires ARC Resources in C$22B deal to expand Montney position and secure LNG-linked gas supply

Type: Acquisition · Technology: Gas · Country: Canada · Value: $22B · Announced: 2026-05-01

Shell agreed to acquire ARC Resources in its largest transaction in over a decade, paying C$22 billion to materially expand its position in the Montney formation. The deal doubles Shell's integrated gas portfolio and secures long-duration inventory directly tied to the LNG Canada project, reinforcing Western Canada's role in global LNG supply amid ongoing disruptions elsewhere. The acquisition strengthens Shell's position in one of North America's most prolific gas plays, with ARC's assets positioned to supply feedstock for LNG Canada's 14 million tonnes per annum export terminal. Expected to close in late 2026 pending regulatory approvals, the transaction positions Shell as a dominant player in Canada's gas export infrastructure. RBC Capital Markets and Scotiabank advised Shell, while TD Securities and BMO Capital Markets advised ARC Resources.

Counterparties

Source article