Shareholders agree to Shell’s BG Group takeover

The QCLNG gas liquefaction plant will soon come under the control of Royal Dutch Shell following shareholder agreement for the takeover of BG Group.

With the success of the shareholder vote the takeover will need approval from the UK High Court of Justice.

Shell chief executive officer Ben van Beurden said he was pleased that BG shareholders had agreed with the takeover.

"BG adds attractive deep water and integrated gas positions and will act as a catalyst for accelerating the re-shaping of our business," he said.

The new takeover will give Shell the ability to process gas from fields developed by subsidiary Arrow Energy without sale to a third party.

Early last year Shell scotched plans for a fourth Curtis Island LNG plant after more than a year of conjecture, but continued Arrow’s development of coal seam gas reserves in the Bowen and Surat Basins.

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