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Qatar’s LNG Dominance Threatened by Shell’s Reported Withdrawal

Jul 22nd, 2014
by John Donovan.
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Screen Shot 2014-02-10 at 16.29.29Extract from an article by Andy Tully published by oil price.com on 21 July 2014

In 2013, however, one Shell well in Block D of the field came up dry, although Qatar had promoted it as a rich source of energy. As a result, Shell decided against even beginning a second exploratory well, anonymous sources told The Wall Street Journal. A person identified by The Journal only as a Shell spokesman said the first well had reached the depth planned to explore for gas, but “it did not encounter commercial volumes of hydrocarbons.” Now, he said, Shell is negotiating with QP and PetroChina on how to withdraw from the venture without drilling the second well. read more

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Shell senses huge profit potential in China

Jun 13th, 2014
by John Donovan.
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Screen Shot 2014-06-13 at 10.41.05

From the China Daily website Ecns.cn published Friday 13 June 2014

Multinational oil company Royal Dutch Shell Plc will continue to invest in China and considers the country to be its most important market in which to grow its retail business, a senior official said on Thursday.

Istvan Kapitany, executive vice-president of Shell Retail, said China plays a key role for the company in 70 targeted countries. “We will continue to invest in China since the potential of the retail market in China is significant,” said Kapitany.

According to the Netherlands-based company, Shell opened almost one service station per day in China in 2012 as demand grew. At present, the company operates about 1,100 service stations in the country. read more

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Queensland OKs Shell-PetroChina $14B Aussie LNG Plant

Sep 12th, 2013
by John Donovan.
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Screen Shot 2013-07-03 at 09.31.27

By Keith Goldberg

Law360, New York (September 10, 2013, 5:07 PM ET) — Australia’s Queensland state government on Tuesday signed off on a planned 15 billion Australian dollar ($14 billion) liquefied natural gas plant jointly owned by Royal Dutch Shell PLC and PetroChina Co. Ltd. that will process coalbed gas piped in from the region’s abundant deposits.

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Shell in no rush over $20b Arrow LNG project

Oct 19th, 2012
by John Donovan.
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October 19, 2012 – 2:04PM

Royal Dutch Shell is in no hurry to sign off on its Bowen Basin liquefied natural gas joint venture that’s projected to cost $20 billion as it focuses on cheaper East African projects.

‘‘We see a cost advantage in East Africa over Australia at the moment,’’ Andy Brown, Shell’s director of international production, said in an interview in London. ‘‘We aren’t going to rush into the final investment decision.’’

Shell and PetroChina are drilling in Queensland to prove gas resources for their proposed Arrow LNG plant, which would have a capacity of about 9 million tonnes a year and may cost more than $20 billion, according to Deutsche Bank. At the same time, Shell is drilling in Tanzania and this year was outbid for Cove Energy Plc as it sought assets in Mozambique. read more

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Arrow Energy CEO Says Queensland LNG Invest Decision Due 2013

Oct 18th, 2012
by John Donovan.
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By Ross Kelly Published October 18, 2012 Dow Jones Newswires

MORANBAH, Australia–Royal Dutch Shell PLC (RDSB) and PetroChina Co. (PTR) are on course to approve construction of a multibillion dollar gas-export project in eastern Australia next year, shrugging off fears that cost pressures or a supply glut will delay the venture.

“Momentum on the LNG project is really very strong,” said Andrew Faulkner, chief executive of Arrow Energy, which Shell and PetroChina acquired in a 3.4 billion Australian dollar (US$3.53 billion) transaction in 2010. read more

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Shell spells out China growth fears

Sep 17th, 2012
by John Donovan.
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Mathew Dunckley and Angela MacDonald-Smith

The Chinese economy could be in worse shape than official figures suggest, threatening demand for Australia’s resources at the same time as increasing international competition and rising costs spell trouble for this nation’s fledgling gas boom, says one of Royal Dutch Shell’s top global ­executives.

Shell global downstream director Mark Williams said the energy giant was experiencing the equivalent of recession-level demand for key products such as diesel at the same time as China, one of the single largest markets, was posting official reports of strong growth. read more

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Royal Dutch Shell flags Australian cost pressure

Aug 22nd, 2012
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By Ross Kelly

SYDNEY–A senior Royal Dutch Shell PLC RDS.B -0.08% executive said Wednesday the cost of building energy projects in Australia is becoming “very worrisome” as the European oil giant prepares to decide whether it will spend billions more dollars in the resource-rich nation.

Shell has already committed almost US$30 billion to Australian gas-export projects being built over the next five years. The company’s Australian head, Ann Pickard, said the figure is poised to become US$50 billion if final decisions are made on other projects that Shell has on the drawing board. read more

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Shell Canada to go ahead with Kitimat LNG projects despite billion-dollar Chinese gas investment

Aug 22nd, 2012
by John Donovan.
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By Gordon Hamilton, Vancouver Sun: August 21, 2012

Royal Dutch Shell’s decision to invest $1 billion a year in shale gas exploration in China has not changed Shell Canada’s plans to build a liquefied natural gas terminal at Kitimat aimed at the Chinese market.

Despite China’s potential for shale gas production, demand there is expected to outstrip supply, Shell Canada said Tuesday in a statement.

“The exploration and development of shale gas is expected to grow in China and Shell’s investments, largely with PetroChina, are reflective of that growth,” Shell Canada spokesman Stephen Doolan said. “However, the demand for energy in China and throughout Asia is expected to exceed domestic production. read more

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Shell plans at least $1 billion a year China shale gas investment

Aug 21st, 2012
by John Donovan.
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Chen Aizhu and Judy Hua Reuters: 6:27 a.m. CDT, August 21, 2012

BEIJING (Reuters) – Royal Dutch Shell plans to spend at least $1 billion a year exploiting China’s potentially vast resources of shale gas, the firm’s top China executive said, part of an aggressive strategy to expand in the world’s biggest energy market.

Shell in March secured China’s first product sharing contract for shale gas, hoping that getting in early will allow it to be a big beneficiary from the sort of boom in shale that has transformed the U.S. energy market. read more

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Shell plans to invest over $500 million on China shale, tight gas play in 2012

Jul 30th, 2012
by John Donovan.
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Singapore (Platts)–30 Jul 2012/237 am EDT/637 GMT

Shell plans to invest over $500 million this year drilling in shale gas and tight gas acreage in China, its chief financial officer Simon Henry said in an analyst call during its second quarter results announcement Thursday.

“There are several plays in our portfolio with PetroChina. We have two in Sichuan province in the south, southwest, and we have many CBM [coalbed methane] opportunities in the north … We spent around $450 million last year. This year [we plant to spend] over $500 million. We’re drilling about … close to 20 wells this year. It’s still very much in the exploration and appraisal [stage],” Henry was quoted as saying in a transcript of the call, which was out Friday. read more

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Shell wants to invest more in China downstream gas

Jul 30th, 2012
by John Donovan.
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July 30, 2012, 6:39 a.m. EDT

By Wayne Ma

–Shell hopes to invest in China gas, both upstream and downstream

–Shell, Qatar, CNPC Taizhou refinery approval process is advancing

–Foreign companies may work with private China firms in second shale round

BEIJING–Royal Dutch Shell PLC RDS.B +0.82% hopes to boost investment not only upstream but also in the downstream gas sector in China, as it wants to profit from every link in the gas supply chain, the head of the company’s China unit said Monday. read more

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Shell hails North American gas potential

Jun 11th, 2012
by John Donovan.
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The U.S. and Canadian natural gas markets could help China meet its growing energy demand in a clean and sustainable fashion, a Shell executive said.

Published: June 11, 2012 at 8:58 AM

WASHINGTON, June 11 (UPI) — The U.S. and Canadian natural gas markets could help China meet its growing energy demand in a clean and sustainable fashion, a Shell executive said.

Marvin Odum, upstream director for American operations at Royal Dutch Shell, speaking at the spring policy forum for the Canadian American Business Council, said U.S. and Canadian natural gas markets were ripe for exports.

“Alberta and British Columbia alone are probably sitting on more than 200 trillion cubic feet of competitive natural gas,” he said in his address. “Natural gas production from tight shale and sandstone in the U.S. and Canada nearly doubled between 2005 and 2010.” read more

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Asian Nations Join Shell on Canada LNG Project

May 16th, 2012
by John Donovan.
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May 16, 2012

By MARI IWATA

TOKYO—Energy companies from China, South Korea and Japan have put aside political and commercial rivalries to ship billions of dollars worth of Canadian liquefied natural gas to Asian markets, but they will face stiff competition for supplies and customers from a raft of competing projects.

In a landmark agreement, Mitsubishi Corp., 8058.TO -0.49% Korea Gas Corp. and PetroChina Co. 0857.HK -3.80% late Wednesday said they and Royal Dutch Shell RDSA +0.66% PLC would go ahead with a “LNG Canada” project to pipe gas to the Pacific Coast, where it will be deep-chilled and exported by sea. read more

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Shell, PetroChina JV Australia LNG faces big cost overrun – source

May 4th, 2012
by John Donovan.
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By Charlie Zhu and Rebekah Kebede

HONG KONG/PERTH | Fri May 4, 2012 7:57am BST

(Reuters) – The cost of Royal Dutch Shell (RDSa.L) and PetroChina‘s 0857.K Australian joint venture LNG may rise as much as 50 percent from initial estimates, which could force the companies to delay development, a source close to the project said on Friday.

Arrow LNG is one of four on Australia’s east coast that aim to pump gas from coal seams to export facilities. The estimated investment for all the projects is rising rapidly from the initial price tag of around $70 billion (43 billion pounds). read more

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Australia LNG Boom Threatened by U.S. Shale Exporters

Apr 26th, 2012
by John Donovan.
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By Eduard Gismatullin – Apr 26, 2012 1:10 PM GMT+0100

Royal Dutch Shell Plc (RDSA) and PetroChina Co. are designing a liquefied natural gas plant in Australia with capacity of about 9 million metric tons a year that Deutsche Bank AG says will cost more than $20 billion.

Arrow Energy Ltd., the partners’ Brisbane-based venture, plans to decide on whether to invest in the project by the end of next year, Shell Chief Financial Officer Simon Henry said.

“There have been and are ongoing discussions between partners as to whether gas can potentially be taken from one producer through other peoples’ facilities,” Henry said today on a conference call. “If there’s a deal there to be done, we’ll do the deal, if not then we move on” with building the joint venture’s own LNG plant in Queensland, he said. read more

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Shell pledges to spend, spend, spend – but gamble leaves City cold

Feb 4th, 2012
by John Donovan.
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The Times: 3 February 2012

Tim Webb Energy Editor

Ambitious plans to boost growth will cost too much and knock Shell off its top spot, the City warned yesterday. Unveiling disappointing results, the Anglo-Dutch oil group further unnerved investors when it said it planned to spend even more heavily on new oil and gas projects.

Analysts said that Shell would make lower returns from the huge outlays, leaving less room to raise its dividend significantly. The company, which has outperformed its rivals over the past 18 months, would struggle to maintain its position at the front of the pack, they added. read more

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