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Natural gas to make up half Shell upstream output 2012

Reuters India

Tue May 4, 2010 12:32pm IST

SINGAPORE, May 4 (Reuters) – Natural gas will account for half of Royal Dutch Shell’s (RDSa.L: Quote, Profile, Research) global upstream production by 2012, Chief Executive Peter Voser said on Tuesday.

“We are working with partners around the region to tap its resources and meet the energy needs of Asia,” he said.

“Shell and PetroChina are also working together on projects to try and develop tight gas and shale gas reservoirs in Sichuan,” he said in a speech at the opening of the petrochemical complex in Singapore.

Shell and China National Petroleum Corp (CNPC), parent of PetroChina (601857.SS: Quote, Profile, Research) signed agreements for LNG supply from the Gorgon project in Australia and has just received approval from the Australian government to buy Arrow Energy (AOE.AX: Quote, Profile, Research), Voser said.

(Reporting by Florence Tan and Seng Li Peng ; Editing by Ramthan Hussain)

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