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AFX Europe (Focus): Anglo American/Shell alliance may develop 5 bln aud Australian project – report

May 30, 2006
SYDNEY (XFN-ASIA) – Royal Dutch Shell group and mining giant Anglo American Corp have formed an alliance that may result in the 5 bln aud Monash synthetic diesel and electricity project being developed in the Australian state of Victoria, the Age newspaper reported, citing the companies.

Shell and Anglo have formed the global alliance to pursue “clean”, coal-converting energy opportunities and have nominated the Monash project as their leading candidate, the daily said.

Formation of the alliance comes ahead of an expected mid-year decision to first build a 300-400 mln aud demonstration plant for the Monash project.

It is promoted as “clean” energy because carbon dioxide emissions are to be captured for injection into the nearby exhausted Bass Strait gas reservoirs.

If the process is viable, the Age said a 5 bln aud energy complex could be built within a decade.

Its production of more than 60,000 barrels a day of diesel and other liquids would be bigger than the fast-falling liquids production from the Exxon Mobil/BHP Billiton Bass Strait oil and gas fields of 50,000 barrels a day.

The Monash project envisages a new coal mine, drying and gasification plant, carbon dioxide capture and storage, and a gas-to-liquids plant with associated power generation.

(1 usd = 1.31 aud)

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