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Shell-PetroChina JV to Develop Next Phase of Surat Gas Project in Australia

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Shell's (SHEL) 50/50 joint venture with PetroChina, Arrow Energy, will develop the next phase of the Surat gas project in Queensland, Australia, the oil major said on Wednesday.

The project will supply around 79 million standard cubic feet per day of gas at peak production to both domestic and international markets. First gas is expected in 2028, according to the statement.

Arrow Energy has a 27-year sales agreement with Shell Queensland Gas-operated Queensland Curtis Liquefied Natural Gas joint venture, enabling the supply of gas to international customers.

Shell holds a 73.75% stake in the QCLNG joint venture, while China National Offshore Oil owns a 25% interest, and MidOcean Energy 1.25%.

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