| Shell's joint venture bid with PetroChina for Arrow Energy |
US$3bn |
|
|---|---|---|
| A company jointly owned by PetroChina and Royal Dutch Shell has entered into discussions for Arrow Energy | ||
| Firm | Client | Role |
|
Allens Arthur Robinson |
Royal Dutch Shell | Australian counsel |
|
Gilbert + Tobin |
Arrow Energy | Australian counsel |
| Blake Dawson Lead partners: Justin Shmith, Paul Newman and Marie McDonald |
PetroChina Company | Australian counsel |
Australia’s coal seam gas industry has attracted the attention of PetroChina, which will submit a joint US$3bn bid with Royal Dutch Shell for Arrow Energy, the Brisbane-based international coal seam gas company.
This bid follows on from Shell’s acquisition of 30% of Arrow Energy’s resources, which included interests in coal seam gas tenements that provide potential gas supply for LNG production. AAR advised on the previous acquisition and the firm is again involved in guiding the parties through the bid, and potentially, the transaction.
PetroChina's 50-50 joint venture with Shell, highlights China’s arrival as a significant investor in Australia’s coal seam gas industry. A successful deal will substantially enhance the Shell Curtis Island LNG project, off Gladstone on the central Queensland coast.
Arrow Energy was previously advised by Mallesons, which eventually withdrew from advising the company due to an alignment issue with another client.