30th May 2022 13:35
(Alliance News) - Shell PLC said on Monday that, together with its joint venture partner, it has taken a final investment decision to develop the Crux natural gas field off the coast of Western Australia.
Shell's partner on the field is SGH Energy, which is part of Seven Group Holdings Ltd.
Crux, which is in the northern Browse Basin, north east of Broome, will supply natural gas to the existing Prelude floating liquefied natural gas facility. Construction will start this year with first gas expected in 2027.
Shell didn't provide the cost of the project on Monday.
"The use of Prelude's existing infrastructure enables significantly reduced development costs, making Crux competitive and commercially attractive," said Shell Australia Chair Tony Nunan.
Shell shares down 1.0% at 2,356.50 pence in London on Monday afternoon.
By Tom Waite; [email protected]
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