July 2 – 8, 2012 Vol. 29, No. 27
CALGARY:
Royal Dutch Shell has put its stake in the C$16.2 billion ($16.8 billion) Mackenzie gas project up for sale, the first crack in the partnership set up to develop vast reserves in Canada’s Arctic and build a pipeline to take the gas south.
Shell is seeking bidders for its 950 billion cubic foot Niglintgak natural gas field in the Mackenzie River Delta, as well as its 11.4 per cent stake in the planned pipeline. The move adds yet more uncertainty to a project that many observers believe suffers from shaky economics.