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Struggling Shell defers Arrow LNG project again

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Screen Shot 2013-12-22 at 19.09.52Angela Macdonald-Smith: February 1, 2014

Royal Dutch Shell has ruled out any commitment this year to the development of its Arrow liquefied natural gas venture in Queensland and signalled a more rigorous approach to other new projects in Australia, where it is also considering big asset sales.

Global chief executive Ben van Beurden would not comment on whether Shell’s remaining $7.4 billion stake in Woodside Petroleum would be among the $US15 billion ($17 billion) of divestments targeted for 2014-15.

But he confirmed Shell was considering the sale not only of its refining business in Australia but also chunks of its fuels marketing activities.

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