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Golar May Pip Shell for Gladstone LNG, The Australian Reports


By Dinakar Sethuraman


Dec. 29 (Bloomberg) — Norway’s Golar LNG Ltd. may win a contract to buy liquefied natural gas from a gas venture in Australia, crowding out Royal Dutch Shell SA, The Australian said, citing Golar LNG’s Chief Executive Officer Gary Smith.

Liquefied Natural Gas Ltd. plans to build a 1.5 million metric-ton-a-year project at Gladstone using gas extracted from coal seams, the daily said. If Golar wins the bid it will secure a 40 percent stake in the project, leaving Liquefied Natural Gas Ltd. with 40 percent and Arrow Energy Ltd., which supplies the gas, with 20 percent, The Australian said.

Royal Dutch Shell Plc is competing to acquire a stake and purchase the output from the coal-seam gas-based fuel export project in Australia’s northeast, the report said.

Brisbane-based Arrow’s Chief Executive Officer Nick Davies didn’t respond to a call on his mobile or to a phone text-message.

To contact the reporter on this story: Dinakar Sethuraman in Singapore at[email protected]

Last Updated: December 29, 2008 01:46 EST


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