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Royal Dutch Shell Looks To Catapult Natural Gas Operations

Royal-Dutch-Shell-Looks-To-Catapult-Natural-Gas-Operations

Undeterred by the writedown, Royal Dutch Shell is looking at its acquisition of Australian gas assets as a long term prospect. The chairman of the Australian unit said on Tuesday that the company sees its new energy and LNG (liquefied natural gas) business as the core for its planning fitting the bill for a longer-term.

Shell is considering LNG as its essential part for expansion policy, where the quarter of its gas comes from the Australian basin. Interestingly, one of Europe’s largest oil companies is aiming for zero-emission by 2050.

Reportedly, post cutting its gas and oil outlook, the company witnessed a booking of USD 11 billion in writedowns in its business in July. It took a toll precisely on QGC business and Australian Prelude floating LNG.

Notably, Shell had acquired QGC for $54 billion in 2016.

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