Shell sells more of Prelude floating LNG project

Following Royal Dutch Shell PLC’s recent deal to sell 17.5% of its Prelude floating LNG project in Browse basin permit WA-44-L offshore Western Australia to Japan’s Inpex Oil & Gas (OGJ Online, Mar. 19, 2012), the supermajor has agreed to sell a further 15% to Asian buyers.

Shell will sell 10% of Prelude to South Korea’s Kogas and 5% to Taiwan’s CPC Corp.

Kogas recently announced a decision to establish an Australian subsidiary to facilitate its plans to invest in Prelude and the company already has approval from the South Korean Ministry of Knowledge Economy to buy 3.64 million tonnes/year of LNG from Shell’s global LNG supply inventory.

In addition, this month Shell signed a heads of agreement to supply CPC with 2 million tpy of LNG for 20 years beginning in 2016 from its global portfolio, which includes Prelude.

Related Articles

Train carrying crude derails, catches fire in Virginia

04/30/2014 A train carrying crude oil derailed Apr. 30 in Lynchburg, Va., setting 3 cars on fire, CSX Transportation announced. The fire was quickly extinguis...

Ramones II Sur natural gas pipeline lets construction to Fluor

04/30/2014 TAG Pipelines Sur S de RL de CV let a contract to ICA Flour, a joint venture of Fluor Corp. and Empresas ICA SAB de CV, to build the 1.42 bcfd Ramo...

FERC releases final EIS for Cameron LNG project

04/30/2014 The US Federal Energy Regulatory Commission on Apr. 30 released its final environmental impact statement (EIS) for the Cameron Liquefaction Project...

Gazprom, CNPC preparing to sign gas supply contract in May

04/30/2014 Following an Apr. 29 meeting in Moscow, OAO Gazprom said it is preparing to sign a gas supply contract with China National Petroleum Corp. in May.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected