ROYAL Dutch Shell looks set to take control of the QCLNG plant on Curtis Island, Gladstone, after agreeing to take over BG Group in a $90 billion deal. The QCLNG plant, which began exporting LNG late last year, is a joint venture between BG Group and QGC. Royal Dutch Shell previously had plans to build a fourth plant on Curtis Island via Arrow Energy, but shelved that proposal last year.
Commentators say the takeover deal is a huge vote of confidence in Queensland's $63 billion LNG export industry. The deal is one of the energy sector's biggest, and the new company would be valued at about $387 billion. Brisbane Times reports the two companies confirmed on Wednesday they would push ahead with one of the biggest energy deals in history, and redraw the Australian industry landscape in the process. The deal is expected to deliver $US2.5 billion worth of synergies and a significant proportion of those will be in Australia.
Shell has a large portfolio of coal seam gas through its Arrow Energy joint venture with PetroChina. The takeover could bring Arrow gas into QCLNG and potentially stoke a third train at the facility.
Commentators say the takeover deal is a huge vote of confidence in Queensland's $63 billion LNG export industry. The deal is one of the energy sector's biggest, and the new company would be valued at about $387 billion. Brisbane Times reports the two companies confirmed on Wednesday they would push ahead with one of the biggest energy deals in history, and redraw the Australian industry landscape in the process. The deal is expected to deliver $US2.5 billion worth of synergies and a significant proportion of those will be in Australia.
Shell has a large portfolio of coal seam gas through its Arrow Energy joint venture with PetroChina. The takeover could bring Arrow gas into QCLNG and potentially stoke a third train at the facility.
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