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Posts on ‘November 21st, 2012’

Shell to Invest $1 Billion Annually in China Gas Projects

Published November 20, 2012 by Dow Jones Newswires

Royal Dutch Shell PLC (RDSB) will invest around $1 billion annually in its upstream business in China to tap into the country’s surging natural gas demand, state-run newspaper China Daily reported Wednesday, citing the oil and gas giant’s chief executive officer.”There’s huge potential to come in terms of the natural gas market in China,” Peter Voser was quoted by the newspaper as saying.

Shell currently has two gas blocks in southwest Sichuan Province, which it operates in partnership with China National Petroleum Corporation.

The company has drilled 13 out of 21 planned wells in the Jinqiu block and will complete 21 by April 2013, the newspaper said. The Jinqiu project achieved first gas production last September and currently has a daily output of 110,000 cubic meters. Meanwhile, Shell is still assessing whether commercial development at the Fushun-Yongchuan block is viable, and drilling at the 15 wells could start by the end of 2012 or early next year, the report said, without elaborating. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Inflation, Politics Seen Capping North America LNG Exports-Shell

By Selina Williams

LONDON–Inflation and U.S. domestic politics are likely to limit the amount of liquefied natural gas exported from proposed projects in North America to around 60 million to 70 million tons a year over the next decade, Royal Dutch Shell PLC’s (RDSB.LN) Chief Financial Officer Simon Henry said Tuesday.

Currently companies including ExxonMobil Corp. (XOM), ConocoPhilips Co. (COP), BP PLC (BP.LN), Sempra Energy (SRE), Cheniere Energy Inc. (LNG), Shell and Apache Corp. (APA) are seeking to export LNG from the U.S. and Canada in efforts to find more profitable markets amid a continent-wide gas glut, due to the shale gas boom, that has depressed prices. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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