China buys into Queensland coal seam gas

Various technical topics related to science, energy, climate change and coal & gas.

China buys into Queensland coal seam gas

Postby sysop » Fri May 07, 2010 12:21 pm

From Gas Today, Mon, 3 May 2010
Arrow takeover one step closer after clearing regulatory hurdle

The Foreign Investment Review Board has approved the proposal by Shell and PetroChina joint venture, CS CSG (Australia), to purchase 100 per cent of the shares in Arrow Energy.

CS CSG has agreed to pay $4.70 cash per share for all of the shares in Arrow, representing a total consideration of $3.5 billion.

The offer is still subject to Arrow’s shareholder approval, Australian court approval and Chinese Government approval. Arrow has recommended its shareholders vote in favour of the takeover and Arrow’s largest shareholder, New Hope Corporation, has also indicated its support for the offer.

In other words, China as a customer will buy liquefied gas and, China as a part investor, will also extract coal seam gas from the Australian soil. Make your own conclusions!
Posts: 37
Joined: Mon Apr 13, 2009 9:38 pm

Return to General Research Highlights

Who is online

Users browsing this forum: No registered users and 1 guest