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liquid natural gas companies
post Posted: May 18 2010, 08:12 AM
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Shell to Spend More in Australia Than Other Regions
May 17 (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil company by market value, said it expects Australia to attract more of the energy company’s investment than any other region, driven by liquefied natural gas projects.
“It’s the biggest growth area we’ve got,” Ann Pickard, Shell Australia’s executive vice president of oil and gas exploration and production, said in an interview in Brisbane today. Shell said in March it will spend more than $100 billion globally by 2014 to revive production growth.
Shell is likely to increase its Australian workforce fourfold from a “couple of hundred” now, said Pickard, who started the job about six weeks ago after leading Shell’s African operations. She gave no timeline for the increased Australian spending or staff count at oil and gas projects targeting markets including Japan, China and South Korea.
Pickard made the forecasts even as Australia outlines plans for a 40 percent tax on profits from resource projects that threatens to delay coal-seam gas ventures in Queensland state. Australia is a key growth region for Shell as The Hague-based producer continues a shift toward gas, Chief Executive Officer Peter Voser said in March. Shell expects the share of gas as a proportion of output to increase to 52 percent in 2012.
“What’s driving this is that Australia has a lot of gas,” and is a politically stable country close to Asian markets, said Graeme Bethune, a consultant with Energy Quest who is attending the conference in Brisbane. “But one challenge is the uncertainty about government policy. A lot has changed.”
‘Key Strategic Area’
Chevron Corp., the second-biggest U.S. energy company, today also underscored Australia’s increasing importance to its global portfolio.
Chevron Australia has spent more than A$1 billion ($880 million) on drilling in the past three years and expects to allocate “hundreds of millions of dollars” on exploration this year, Roy Krzywosinski, managing director of the unit, told reporters in Brisbane.
“Australia is one of the company’s key strategic areas to drill and explore,” he said at the Australian Petroleum Production and Exploration Association conference.
Shell is adding workers in Australia while it scales back in other regions. Voser has targeted $1 billion in cost savings this year and will cut 2,000 more jobs by the end of next year.
Finding workers to help develop reserves in the country is a “challenge,” Pickard said earlier in her speech to the conference.
Floating LNG
PetroChina Co. and Shell agreed in March to acquire Australia’s Arrow Energy Ltd. for A$3.5 billion. Shell plans to convert coal-seam gas to liquid form in Queensland, and intends to use floating LNG technology to develop the Sunrise and Prelude ventures. After those ventures, Shell may expand the use of floating LNG to more Australian projects, Pickard said.
Shell is also a partner in Chevron.’s A$43 billion Gorgon project in Western Australia.
Consolidation among the companies planning coal-seam projects will depend on the ability of the ventures to sign up customers, Pickard said. Cooperation, including the sharing of pipelines, is one scenario that may play out, she said. The combination of Queensland projects is another possibility.
“It’s obvious when you have four LNG projects close together to look at what your options are,” Pickard said.
Australia’s proposed 40 percent tax on resource profits may prompt Shell, ConocoPhillips, BG Group Plc and Santos Ltd. to merge more than $70 billion of gas projects targeting fuel shipments to China, Japan and South Korea. The ventures may combine to form two developments, or one “mega-project,” Nik Burns, an analyst at RBS Morgans in Melbourne, said last week.
Santos said May 6 the tax plan may prompt it to delay an investment decision on its venture with Petroliam Nasional Bhd. of Malaysia. Origin Energy Ltd., ConocoPhillips’ partner in a rival Queensland project, said May 5 the levy would add a “significant” cost and may delay its development.

post Posted: Mar 18 2010, 11:26 AM
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TWO major companies have signed a $100 million agreement to build a liquified natural gas plant northwest of Brisbane. Gas company BOC and coal seam gas exporter QGC announced the contract in Chinchilla today.
The companies said the new plant is on track to be the first in Australia to produce liquefied natural gas (LNG) from coal seam gas to fuel trucks.
Premier Anna Bligh flew to Chinchilla for the announcement.
She said the agreement heralded the start of a new industry for Queensland which would see heavy vehicles switch to LNG - an environmentally cleaner fuel than current alternatives.
"LNG produces up to 25 per cent fewer emissions than diesel and is a proven safe alternative to other fossil fuels,'' Ms Bligh said.
"Through this agreement, Queensland will join the rest of Australia, as BOC develops a network of fuelling stations across the country for vehicles converted to run on LNG.'' She says QCG has agreed to supply gas to BOC from July 2011 and if the companies meet that deadline, Queensland will become the first in Australia to produce LNG from coal seam gas.
The plant will be built next to the Condamine Power Station, west of Chinchilla, with construction expected to start early next year.

post Posted: Nov 29 2005, 08:18 AM
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I am wanting to investigate liquid natural gas companies for a long term buy as I have been reading a lot about LNG being the way of the future wink.gif

Apart from LNG - the company - are there any other companies which anyone out there would recommend?

Welcome any feedback


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