Rick Wilkinson
OGJ Correspondent
PERTH, Apr. 21 -- Shell Australia has joined the Wheatstone LNG project as both gas supplier and equity participant following the signing of a unitization agreement with project operator Chevron Australia.
Under the agreement Shell, which held a 33.33% stake in retention lease WA-16-R—one of two permits that contain part of the Iago gas field—will now have an 8% interest in the Wheatstone and Iago fields in the Chevron-operated permits WA-253-P, WA-17-R, and WA-16-R.
Shell also will take a 6.4% interest in the proposed Wheatstone project facilities. Front-end engineering and design work for Wheatstone is nearing completion and a final investment decision is expected during the second half of this year after finalization of environmental approvals and other associated agreements with the government.
