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Shell In Discussions On Gladstone LNG Consolidation

THE WALL STREET JOURNAL

OCTOBER 8, 2009

SYDNEY (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) Executive Director, Upstream International, Malcolm Brinded said Thursday the company is in consolidation talks with other ventures planning to build liquefied natural gas plants at Gladstone in Queensland state.

Brinded, however, said that Shell is well placed to “go it alone” at Gladstone.

“We can contemplate going on our own but we’re very happy to contemplate consolidation, and we’re ready and in discussions on that front,” Brinded told reporters.

Brinded, who is in Australia, declined to comment on whether Shell would sell its 34% stake in Woodside Petroleum Ltd. (WPL.AU) at the right price.

“All I’d say is it’s a position that we value,” he said.

“We are very pleased to have the stake and we’re very pleased to see the growth that Woodside have been able to deliver to all of its shareholders, us included.”

-By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; [email protected]

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