Deals
Buying BG Gives Shell Solution to Stranded Australian Gas Assets
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Royal Dutch Shell Plc is seeking an outlet for its natural gas reserves in Australia’s Queensland state. Its $70 billion purchase of BG Group Plc provides a solution.
Shell and its partner PetroChina Co. have been looking at alternatives for their Arrow gas project after shelving plans to build an export terminal this year due to cost blowouts and slumping energy prices. Arrow is in the same state as plants run by Santos Ltd. and ConocoPhillips -- as well as BG’s $20 billion Queensland Curtis LNG development.