LNG

Beach Energy, the Australian exploration and production company set to become the nation’s newest LNG exporter in 2023, said it was continuing to improve natural gas assets at home around the Otway Basin offshore in south Australia and in New Zealand in the Taranaki Basin.

Royal Dutch Shell, one of the leading participants in the global LNG and natural gas market, is to end its 100-year presence in New Zealand by selling its shares in eight businesses for US$578 million to Austrian energy operator OMV, a company being helped by Shell to become an LNG importer using the Dutch port of Rotterdam.