Casie Hough, ABC Rural
Royal Dutch Shell global chief executive Ben van Beurden says the company will be slowing down on new developments.
This means the development of Arrow's greenfield liquefied natural gas project at Curtis Island in Queensland is "off the table".The decision has been blamed on falling oil prices, with Shell cutting spending by $15 billion over three years.
While this has implications for the Curtis Island Development, Shell spokesman in Australia Paul Zennaro said this would not affect the upstream development of wells in the Surat and Bowen Basin."Work continues on development of Arrow's substantial gas resources in the Bowen and Surat Basins," he said.
"Shell continues to be driven by value and finding the best development option for Arrow gas. Discussions are ongoing on collaboration opportunities."The announcement came as QCLNG exported its first shipment of liquefied natural gas earlier this month. The Santos GLNG and the Origin APLNG projects are expected to come online this year.