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May 16, 2010

Shell Seeks Australian NOC Partnerships

Energy giant Royal Dutch Shell may seek to forge more partnerships with Austalia's national oil companies in a bid to gain greater market access and boost its LNG business, a senior company official said. Shell's new head of Australian oil and gas Ann Pickard told Reuters that Australia

By cms admin

Energy giant Royal Dutch Shell may seek to forge more partnerships with Austalia’s national oil companies in a bid to gain greater market access and boost its LNG business, a senior company official said.

Shell’s new head of Australian oil and gas Ann Pickard told Reuters that Australia will also become the biggest destination for its investments in the next few years as it tries to boost its natural gas business to satisfy growing Asian demand.

Shell has teamed up with state-owned PetroChina to bid for Australian coal seam gas producer Arrow Energy and plans to use Arrow’s gas to build a major liquefied natural gas (LNG) plant in the northeastern state of Queensland.

Pickard said the venture had not factored in the Government’s proposed resource super tax when it launched a A$3.44bn ($3.05 billion) bid for Arrow, but she would not comment whether the bid would be amended due to the planned tax, reports Reuters.

Shell said it plans to increase its LNG production capacity by 15 million tonnes per annum by 2020, of which most of the investment will be focused in Australia.

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