HOUSTON/NEW YORK/LONDON, Jan 16 : Oil major Shell and Japanese conglomerate Mitsubishi Corp are exploring sale options for their respective stakes in the C$40 billion ($28.8 billion) LNG Canada project, three sources familiar with the matter told Reuters. The moves come as owners of the massive liquefied natural gas facility weigh a potential expansion, and after another stakeholder, Petronas, successfully offloaded a piece of the project. Shell, the largest owner with a 40 per cent stake in LNG Canada, has been working with investment bankers at Rothschild & Co to sound out interested parties in recent weeks, said two of the sources. Two sources added that Shell could offload as much as three-quarters of its holding, or 30 per cent of the project. Shell has expressed willingness, however, to consider different options relating to its exposure to the project’s Phase 1, which is operational, and the proposed Phase 2, given their different risks. One of the sources estimated that any buyer for Shell’s stake could be committing roughly $15 billion, inclusive of the equity stake, …