News

Shell confirms Arrow LNG won't be approved this year

SHELL has confirmed it is unlikely to approve development of the $10 billion Arrow LNG project this year, but that it remains in the pipeline for the Anglo-Dutch major.

Having already cut back on Arrow Energy upstream staff last month, the multi-national corporation confirmed to shareholders and analysts on Thursday night that it was unlikely any big announcements would be made in the region this year.

"We recently… postponed the final investment decision on the Arrow LNG project in Australia. We didn't like the economics and inflation risks on these proposals," new chief executive Ben van Beurden said.

"We are not expecting any major financial investment decisions in Asia Pacific LNG in 2014."

Arrow LNG was originally due to make a final investment decision on the project late last year, but delayed it.

News of a further delay demonstrates that Shell views the Arrow LNG as a non-core project, although it said that it was still in the pipeline as a future project.

"Shell's focus in LNG is to…be capital efficient in progressing the next wave of LNG options - Abadi, Canada LNG, Browse, and Arrow," Mr van Beurden said.

The Arrow LNG project is a 50-50 joint venture between Shell and Chinese major PetroChina.
 

Topics:  arrow energy curtis island gas gladstone lng resources shell



Science Festival seriously awesome

CALLING everyone who wants to see, hear and be a part of something totally cool: this is where you need to be this March.

Drink where the cool kids do this summer

There are a bunch of new bars open in Brisbane, make sure you're there!

CHECK out these new funky bars.

Discover Brisbane’s laneway gems

Brisbane's laneways will surprise you.

NOT all of Brisbane City is as it seems…

Top five things to experience this summer in Brisbane

Tangalooma is amazing if you're keen for a dive, kayak or swim.

THIS summer get out and explore your capital city.

Don’t go chasing waterfalls…find them on these drives!

The Scenic Rim is just one place nearby that you'll love.

BRISBANE isn’t all bright lights and city slickers.

Your boots are made for walking these tours

Brisbane Greeters tours are a great way to learn the local history of the city.

YOU don’t need a bike or bus for a seriously good tour of Brisbane.

Is Brisbane the new arts and culture capital?

Check out GOMA's latest exhibition - it's all about hair! GOMA 10 Ambassador Patience Hodgson visits Nervescape V 2016 by Icelandic artist Hrafnhildur Arnardóttir (aka Shoplifter), commissioned for ‘Sugar Spin: you, me, art and everything’ at the Gallery of Modern Art, Brisbane. 
Photograph: Natasha Harth, QAGOMA

THE rest of the world should be envious of this line-up!

Bundy leader calls Gladstone a 'one trick town'

WHO WINS: Which harbour would you rather have your boat in? (Left, Gladstone, right Bundaberg).

STOUSH erupts as Gladstone's mayor jumps to city's defense.

Jobless, he moved to Gladstone after a life-changing accident

THINKING DIFFERENTLY: Golden Casket Gladstone Newsagency's new owners Andrew and Sonya Sims with their son Jakob, 11. They have plans to put a cafe style area out the back of their store.

HORROR ACCIDENT left man out of work with debilitating injuries.

Popular island resort sells to loaded international investor

OUR PICK: Chris Foey's colourful shot of one of Gladstone's great tourism hot spots, Heron Island.

International investor snaps up piece of Gladstone paradise.

Local Partners

Nadia visits Coast to escape Married At First Sight drama

MARRIED At First Sight contestant Nadia Stamp escaped to the Coast for a girl's weekend to take stock ahead of week of drama.

‘I didn’t stuff it up like you have’: Plibersek on Q&A

“I didn’t stuff it up the way you have stuffed it up, George”: Tanya Plibersek.

Plibersek lashed out at Brandis to plenty of applause

MKR cheating scandal: Alyse and Matt hit back

Matt Jenner shows his MKR rivals the curry paste he and Alyse used.

Alyse and Matt Jenner have hit back at claims they cheated on MKR

The spare part that forced the ABC off air

Aunty's showing her age ahead during new IT roll out

Why ABC Coast FM has taken so long to resume local programming

MKR rocked by satay sauce cheating scandal

Alyse and Matt slammed for satay sauce fiasco.

'Nasty' Married At First Sight groom ripped apart on TV

Anthony gets torn down during the Married At First Sight commitment ceremony.

MAFS groom Anthony faces the music after fiery dinner party.

MOVIE REVIEW: Matt Damon's The Great Wall gets lost

Matt Damon fails in a scene from the movie The Great Wall.

Did The Great Wall get lost in translation?

Popular island resort sells to loaded international investor

OUR PICK: Chris Foey's colourful shot of one of Gladstone's great tourism hot spots, Heron Island.

International investor snaps up piece of Gladstone paradise.

Expert: Why renters, home buyers may struggle

Matusik Property Insights director Michael Matusik.

What's next for the city's housing market

Massive seaside development of 3200 lots

DESIRABLE LIFESTYLE: The masterplan for the proposed Elliott Heads Estate.

"There's nothing else left along the coastline of Queensland now"

Potential home buyers punished for doing the 'right thing'

Should I go to university or buy a house?

50 more high rise buildings planned for Brisbane CBD

Height limits have been scrapped for Brisbane CBD

800,000 more people expected to work in city over next 20 years

Ready to SELL your property?

Post Your Ad Here!