Shell expands in growing Australian LNG market through Chevron deal

Big oil groups Shell and Chevron have agreed to exchange interests in a number of assets in Australia, which will see the Anglo-Dutch giant build its stakes in a 'key' liquefied natural gas (LNG) plant.

Big oil groups Shell and Chevron have agreed to exchange interests in a number of assets in Australia, which will see the Anglo-Dutch giant build its stakes in a 'key' liquefied natural gas (LNG) plant.

Shell will exchange its 33.3% interest in the Clio-Acme fields in north-west Australia and a $450m cash payment for Chevron's interests in the Browse LNG project in western Australia (16.7% interest in the East Browse 'titles1' and 20% interest in the West Browse 'titles2').

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