Shell Pumps $713 Million into Queensland LNG Project

Shell and PetroChina have committed hundreds of millions of dollars to keep gas flowing to the QCLNG export venture in Queensland. The investment, worth less than $US500 million ($713 million), will be used to drill more than 140 new wells. This decision comes despite uncertainty over the east coast gas sector due to the Albanese government's domestic gas reservation policy design.

The policy has been criticized by Shell for having 'fundamental flaws'. The company is concerned about the impact of this policy on the industry, but it will continue with its investment plans.