Three of the world’s biggest asset management funds are making multibillion dollar bids for a stake in LNG Canada, Reuters is reporting.

The companies are Apollo Global Management, Blackstone  and ​KKR, Reuters said, quoting anonymous sources.

Shell and the three companies would not comment to Reuters on the report.

If the deal goes through it could bring Shell  from $10 billion (US)  to as much as $15 billion.

If Shell does sell a portion of its  40 per cent stake in LNG Canada that would provide the company with capital to help pay for its $22 billion (Canadian) purchase of a Montney gas field and provide money for LNG Canada Phase 2 if there is a positive final investment decision.

The Reuters report says Shell intends to sell the stake to one single bidder, rather than splitting it among several bidders.

LNG Canada has become more attractive to investors as a North American asset, with uncertainty in the Middle East due to the war with Iran