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Bligh marks Arrow takeover

The Sydney Morning Herald

August 19, 2010 – 11:09AM

AAP

A ceremony in Queensland has marked the takeover of coal seam gas company Arrow Energy Ltd by international oil giant Royal Dutch Shell and PetroChina Co Ltd.

Premier Anna Bligh said the $3.5 billion takeover of Arrow brought together Shell’s knowledge in liquefied natural gas (LNG) and China’s energy market.

Ms Bligh said the deal would see the company owned by Shell and Petrochina, CS CSG (Australia) Pty Ltd, accelerate delivery of the proposed Curtis Island LNG facility, which could process up to 16 million tonnes of LNG per year.

“This project alone would require a workforce of up to 3,000 people… at the peak of construction with approximately 200 to 300 permanent jobs needed for ongoing operations,” Ms Bligh said in a statement.

She said her government was committed to developing the LNG industry, subject to strict environmental regulations.

� 2010 AAP

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