Shell and partners delay decision on Australia’s Crux gas project

Financial Post | Apr 7, 2020 at 8:29 AM
  • Royal Dutch Shell said on Tuesday its Australian unit and joint venture partners had decided to delay a final investment decision (FID) on the Crux gas project in offshore Australia that was initially planned for 2020.
  • LNG demand had been hitting record highs until recently thanks to appetite from China and India as they diversify away from dirtier coal power generation, but the crash in oil and gas prices has caused major LNG exporters to put off gigantic new facilities or expansions of existing projects.
  • The project will be developed to supply backfill gas to the Prelude floating LNG facility off northwest Australia.