By Energy Reporter: Angela Macdonald-Smith: 12 Nov 2015
Shell Australia chairman Andrew Smith has insisted there are no issues of competition raised in eastern Australia with the oil giant’s planned $US70 billion ($98 billion) takeover of BG Group and that letting the deal proceed is the best way of ensuring the company’s undeveloped gas resources in Queensland reach buyers.
“What this market needs is more gas to be developed into the market,” Mr Smith said.
“By approving the combination that will allow for the earliest introduction of Arrow’s resource base into the east coast market,” he said, without pre-empting the November 19 decision due on the deal from the Australian Competition and Consumer Commission, which voiced reservations about it in September. read more
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Oil giants Shell and PetroChina have been forced into a further $1.4 billion writedown on their Arrow Energy coal-seam gas joint venture in Queensland after drilling in the Bowen Basin failed to deliver expected results and has delayed the project. 
