Majors Buying Into Australia's LNG Sector

Australia's Arrow Energy has said that it has received an AUD3.7bn (US$3.4bn) offer from a vehicle jointly owned by Anglo-Dutch major Royal Dutch Shell and state-run PetroChina. Arrow is the largest holder of coal bed methane (CBM) acreage in Australia, making it an attractive target for Shell and PetroChina as they position themselves to gain from the unconventional gas boom that is boosting Australia's position as the major liquefied natural gas (LNG) exporter to energy-starved markets in Asia.

To read the full article, please choose one of the following options: