Royal Dutch Shell Plc, Europe’s biggest oil company, said its Arrow Energy Ltd. venture in Australia is in cooperation talks with competitors building liquefied natural gas projects in Queensland state.
BG Group Plc, the U.K.’s third- largest oil and natural gas producer, is working with Goldman Sachs Group Inc. as it considers selling pipelines and other equipment at its Australian liquefied natural gas project, said two people with knowledge of the matter.
PetroChina Co., the nation’s biggest oil and gas producer, is looking to make more deals in Australia, adding to about $3.7 billion in acquisitions as part of a global drive to feed surging Chinese demand.
Royal Dutch Shell Plc, the world’s biggest liquefied natural gas supplier, may delay until 2014 a decision on its Arrow LNG venture that’s forecast to cost $20 billion amid rising expenses for energy projects in Australia.
Arrow Energy Ltd. shareholders approved a A$3.5 billion ($3.1 billion) takeover by Royal Dutch Shell Plc and PetroChina Co., giving the buyers reserves to feed an Australian liquefied natural gas venture.