UPDATE: Liquefied Natural Gas Mulling Other Supply Options
March 15 2010 - 8:30PM
Dow Jones News
Liquefied Natural Gas Ltd. (LNG.AU) said Tuesday it is
considering sourcing gas for the proposed Fisherman's Landing
project in Queensland state from providers other than Arrow Energy
Ltd. (AOE.AU).
LNG Ltd. said it has extended an early-stage agreement to sell
the project to Arrow to accommodate Arrow receiving a takeover
offer from Royal Dutch Shell PLC (RDSB) and PetroChina Ltd. (PTR),
which has made the deal's completion less certain.
But LNG Ltd. said the agreement with Arrow has become
non-exclusive, meaning it can explore other gas supply
opportunities.
Early site works at the project have been placed on hold,
pending an assessment of all gas supply and project ownership
options, the company said.
Arrow said it remains in "active discussions" with Shell and
PetroChina, which is in line with similar comments made by Shell
late on Monday.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
ross.kelly@dowjones.com
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