Shell takes stake in Chevron gas project

OIL heavyweight Shell is buying a 6.4 per cent stake in rival Chevron's Wheatstone liquefied natural gas (LNG) project off the coast of Australia for an undisclosed sum.

By The Newsroom

Published 9th Apr 2011, 00:17 BST

Updated 10th Apr 2011, 22:10 BST

Phase one of the project will have a combined capacity of 8.9 million tonnes per year of LNG, as well as a domestic gas plant. Chevron is set to become one of Australia's largest LNG producers.

Australia