By Rhiannon HoyleShell PLC and Australia's Seven Group Holdings Ltd. have approved the development of the Crux natural-gas field off the coast of western Australia, Shell said on Monday. The oil major expects gas from Crux to be in demand as traditionally coal-hungry Asian utilities diversify their energy mix and customers globally wean themselves off Russian energy resources following Moscow's invasion of Ukraine. The joint venture will start construction on the project this year and expects to be producing gas in 2027, Shell said. An export pipeline will be connected to the existing Prelude floating liquefied natural gas facility roughly 100 miles southwest of the field. Crux will have the capacity to supply Prelude with up to 550 million standard cubic feet of gas a day.

Source: Wall Street Journal May 30, 2022 04:35 UTC