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Shell shelves Arrow LNG project in Queensland

Screen Shot 2014-06-23 at 11.37.41From an article by Angela Macdonald-Smith published 30 Jan 2015 by The Sydney Morning Herald under the headline:

“Shell shelves Arrow LNG project in Queensland”

Royal Dutch Shell has finally ditched plans for a new $US20 billion-plus liquefied natural gas project in Queensland,making it the latest casualty of the oil price slump.

Global chief executive Ben van Beurden said the proposed greenfield Arrow LNG project with PetroChina was “off the table”, while other ventures would be slowed as priority was given instead to Shell’s North American LNG projects.

The Arrow greenfield project is formally “cancelled,” Shell said in a presentation released for its fourth-quarter results in London which cited several ventures that were being deferred or abandoned in the wake of the collapse in oil prices.

FULL ARTICLE

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