Ann: Arrow Recommends Acquisition By Shell / Petr, page-17

re: Ann: AOE: Arrow Recommends Acquisition By... I have attached an ann from aoe it sounds like shell havn't made up their mind yet about FL and looks like they are eyeing their project by 2012 and if they want to push their target as early as that then FL is the answer cause if you read paragraph no 5 which says:

Caplan said "time will tell" if Shell needs to make more acquisitions to support a four train development at Gladstone, or if it will consolidate or collaborate with rival LNG plants there.

cheers
trans

Shell Tentatively Reaffirms Gladstone LNG First Gas In 2014-15
22/03/2010 2:44PM

SYDNEY (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) on Monday tentatively stuck to its target of shipping liquefied natural gas from Queensland state in 2014 or 2015, although a senior executive from the company said it's too early to be specific about dates.

Shell Australia Chairman Russell Caplan said that Shell and PetroChina on Monday indicating they'll make a final investment decision on a project "by 2012" doesn't necessarily mean its original first gas target will be pushed back, despite LNG projects typically taking around five years to build.

Caplan, however, added that "being absolutely specific about due dates is probably a little bit rich at the moment".

"Whether it's late 2014, early 2015, it's quite difficult to say."

Caplan said "time will tell" if Shell needs to make more acquisitions to support a four train development at Gladstone, or if it will consolidate or collaborate with rival LNG plants there.

"Our focus is completely on the foundation project," Caplan said. "Our involvement with Arrow makes us completely confident that we have the gas required for the foundation project and beyond that we'll explore and develop going forward."

The foundation stage is to develop 7 million-8 million metric tons per annum of LNG production capacity and Caplan said Shell and PetroChina are still keen to eventually build a plant with 16 million tons a year capacity.

Arrow on Monday endorsed a A$3.44 billion offer from Shell and PetroChina for the bulk of its Australian assets.


-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; [email protected]


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(END) Dow Jones Newswires

March 21, 2010 23:44 ET (03:44 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.



Previous Stories
22/03/2010 2:18PM Shell: Time Will Tell If Further Deals Occur To Support LNG Plant (headline only)
22/03/2010 2:09PM Shell Australia Chairman: Likely To Sell 50% Share Of Gladstone LNG To PetroChina (headline only)

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