Shell greenlights $2.5 bln Crux gas project off Australia

MELBOURNE, May 30 (Reuters) – Shell Plc (SHEL.L) said on Monday it had given the go-ahead to develop the Crux gas field off Australia, which analysts estimated would cost around $2.5 billion.

Construction is expected to start in 2023 with first gas expected in 2027, which will feed the 3.6 million tonne a year Prelude floating liquefied natural gas (FLNG) facility, the oil and gas major said in a statement.

Shell said the project would help its Asian customers move from coal to gas, and also provide a secure supply source, a key factor following the imposition of sanctions on Russia.

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