{"organism":"Page","children":[{"organism":"Container.Raw","children":[{"organism":"Metadata","model":{"title":"Shell invests in Phase 2 of Surat Gas Project in Australia","text":"\u003Cp\u003EArrow Energy, an incorporated joint venture between Shell (50%) and PetroChina (50%), has announced plans to develop Phase 2 of Arrow Energy’s Surat Gas Project in Queensland, Australia.\u003C/p\u003E\r\n","links":[{"name":"Shell invests in Phase 2 of Surat Gas Project in Australia","value":"https://www.shell.com.au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia.html"}],"date":"2024-08-12T12:30:00Z"},"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/metadata"},{"organism":"ContentOwner","model":{},"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/contentowner"},{"organism":"Container.Header","children":[{"organism":"Container.Raw","ref":"https://www.shell.com.au/_jcr_content/root/header/inherited.model.json","id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/header/inherited","model":{}},{"organism":"Breadcrumb","model":{"links":[{"name":"Home","value":"https://www.shell.com.au/"},{"name":"Media","value":"https://www.shell.com.au/media.html"},{"name":"2024 Media Releases","value":"https://www.shell.com.au/media/2024-media-releases.html"},{"name":"Shell invests in Phase 2 of Surat Gas Project in Australia","value":"https://www.shell.com.au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia.html"}]},"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/header/breadcrumb"}],"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/header","model":{}},{"organism":"Container.Main","children":[{"organism":"Container.Section","children":[{"organism":"PageHeader.Date","color":"inherited","model":{"title":"Shell invests in Phase 2 of Surat Gas Project in Australia","text":"\u003Cp\u003EArrow Energy, an incorporated joint venture between Shell (50%) and PetroChina (50%), has announced plans to develop Phase 2 of Arrow Energy’s Surat Gas Project in Queensland, Australia.\u003C/p\u003E\r\n\r\n\r\n","date":"2024-08-12T12:30:00Z"},"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/main/section/page_header"},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/main/section/text_1926908109","model":{"text":"\u003Cp\u003EThe gas from the project will flow to the Shell-operated QCLNG liquefied natural gas (LNG) facility on Curtis Island, near Gladstone, to meet long-term contracts and supply domestic customers. This is part of an existing 27-year gas sales agreement between Arrow Energy and QGC. Phase 2 is expected to contribute around 22,400 barrels of oil equivalent per day (or 130 million standard cubic feet per day) at peak production.\u003C/p\u003E\n\u003Cp\u003E“Embarking on Phase 2 of the Surat Gas Project with Arrow is part of our commitment to bring more gas to market,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. “QCLNG marked its 1000\u003Csup\u003Eth\u003C/sup\u003E cargo at the end of last year, reflecting its significance as a gas supplier for Australia and the region. This investment will enable us to sustain and grow this important, secure energy source that offers a lower emissions alternative to options like coal.”\u003C/p\u003E\n\u003Cp\u003EDuring Capital Markets Day in 2023, Shell said it would secure further feedgas supply for its existing LNG facilities through additional backfill projects to increase value for shareholders. Phase 2 will deliver volumes to be processed through QCLNG infrastructure and comprise up to 450 production wells, a field compression station, 27 kilometres of new pipeline and road and infrastructure upgrades.\u003C/p\u003E\n\u003Cp\u003EFirst gas is expected in 2026.\u003C/p\u003E\n"}},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/main/section/text_1667013341","model":{"title":"Notes to editors","text":"\u003Cul\u003E\n\u003Cli\u003EShell and PetroChina formed the Arrow Energy joint venture in 2010. Arrow announced a 27-year gas sales agreement to supply gas to the Shell-operated QCLNG joint venture in 2017. Phase 1 of the Surat Gas Project was approved in April 2020 and included more than 600 wells.\u003C/li\u003E\n\u003Cli\u003EQCLNG is a Shell-operated joint venture between Shell (73.75%), CNOOC (25%) and MidOcean Energy (1.25%) and supplied 15% of demand on Australia’s east coast in 2023.\u003C/li\u003E\n\u003Cli\u003EThe production wells source natural gas from coal seams in the Surat Basin.\u003C/li\u003E\n\u003Cli\u003EThe investment in Phase 2 is expected to generate an internal rate of return (IRR) in excess of the hurdle rate for Shell’s Integrated Gas business. Shell plans to grow its LNG business by 20-30% by 2030, compared with 2022, and LNG liquefaction volumes are planned to grow by 25-30%, relative to 2022, as outlined at Shell’s Capital Markets Day in 2023.\u003C/li\u003E\n\u003Cli\u003EAccording to Shell’s LNG Outlook 2024, global demand for LNG is estimated to rise by more than 50% by 2040, as industrial coal-to-gas switching gathers pace in Asia and these countries are expected to use more LNG to support their economic growth.\u003C/li\u003E\n\u003Cli\u003EShell believes LNG will play a critical role in the energy transition, replacing coal in heavy industry. It also has a continued role in displacing coal in power generation, helping to reduce local air pollution and carbon emissions. LNG helps to provide the flexibility the power system needs, at a time when renewable generation is growing rapidly. Find out more in Shell’s \u003Ca href=\"https://www.shell.com/sustainability/climate/shell-energy-transition-strategy.html\"\u003E\u003Cstrong\u003EEnergy Transition Strategy 2024\u003C/strong\u003E\u003C/a\u003E.\u003C/li\u003E\n\u003C/ul\u003E\n\u003Ch3\u003EEnquiries\u003C/h3\u003E\n\u003Cp\u003E\u003Cstrong\u003EUK / International Media Relations:\u003C/strong\u003E +44 20 7934 5550\u003C/p\u003E\n\u003Cp\u003E\u003Cstrong\u003EAsia Pacific Media Relations:\u003C/strong\u003E \u003Ca href=\"mailto:apac-media@shell.com\"\u003Eapac-media@shell.com\u003C/a\u003E\u003C/p\u003E\n"}},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/main/section/text","model":{"title":"Cautionary note","text":"\u003Cp\u003EThe companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this media release\u003Cb\u003E \u003C/b\u003E“Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this media release\u003Cb\u003E \u003C/b\u003Erefer to entities over which Shell plc either directly or indirectly has control. The term “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.\u003C/p\u003E\n\u003Cp\u003E\u003Cb\u003EForward-looking Statements\u003C/b\u003E\u003C/p\u003E\n\u003Cp\u003EThis media release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. 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No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this media release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2023 (available at \u003Ca href=\"https://www.shell.com/investors/news-and-filings/sec-filings.html\"\u003E\u003Cstrong\u003Ewww.shell.com/investors/news-and-filings/sec-filings.html\u003C/strong\u003E\u003C/a\u003E and \u003Ca href=\"http://www.sec.gov\" target=\"_blank\"\u003E\u003Cstrong\u003Ewww.sec.gov\u003C/strong\u003E\u003C/a\u003E). These risk factors also expressly qualify all forward-looking statements contained in this media release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this media release, August 12, 2024. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this media release.\u003C/p\u003E\n\u003Cp\u003E\u003Cb\u003EShell’s Net Carbon Intensity\u003C/b\u003E\u003C/p\u003E\n\u003Cp\u003EAlso, in this media release we may refer to Shell’s “Net Carbon Intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “Net Carbon Intensity” or NCI are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.\u003C/p\u003E\n\u003Cp\u003E\u003Cb\u003EShell’s net-zero emissions target\u003C/b\u003E\u003C/p\u003E\n\u003Cp\u003EShell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target, as this target is currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.\u003C/p\u003E\n\u003Cp\u003E\u003Cb\u003EForward-looking non-GAAP measures\u003C/b\u003E\u003C/p\u003E\n\u003Cp\u003EThis media release may contain certain forward-looking non-GAAP measures. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.\u003C/p\u003E\n\u003Cp\u003EThe contents of websites referred to in this media release do not form part of this media release.\u003C/p\u003E\n\u003Cp\u003EWe may have used certain terms, such as resources, in this media release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website \u003Ca href=\"http://www.sec.gov/\" target=\"_blank\"\u003E\u003Cstrong\u003Ewww.sec.gov\u003C/strong\u003E\u003C/a\u003E.\u003C/p\u003E\n"}}],"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/main/section","model":{}},{"organism":"Container.Section","color":"brand1-subtle","children":[{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/main/section_1643919319_c/promo_copy_copy","model":{"title":"Contact us","text":"\u003Cp\u003EVia this page you can find contact details for Shell Australia.\u003C/p\u003E\r\n","links":[{"name":"Contact us","value":"https://www.shell.com.au/about-us/contact-us.html"}],"image":{"src":"https://www.shell.com.au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/_jcr_content/root/main/section_1643919319_c/promo_copy_copy.shellimg.jpeg/1693318953423/woman-in-call-centre-facing-her-computer-screen.jpeg","alt":"Woman in call centre facing her computer screen","width":3880,"height":2187}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/main/section_1643919319_c/promo_copy_copy_copy","model":{"title":"Projects and Assets","text":"\u003Cp\u003ERead about our projects and assets in Australia.\u003C/p\u003E\r\n","links":[{"name":"Projects and Assets","value":"https://www.shell.com.au/about-us/projects-and-locations.html"}],"image":{"src":"https://www.shell.com.au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/_jcr_content/root/main/section_1643919319_c/promo_copy_copy_copy.shellimg.jpeg/1693318967493/two-engineers-in-yellow-uniforms-and-white-hard-hats-looking-up-at-prelude-flng.jpeg","alt":"Two men looking at construction of a platform","width":2771,"height":1562}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/countries/australia/en_au/media/2024-media-releases/shell-invests-in-phase-two-of-surat-gas-project-in-australia/jcr_content/root/main/section_1643919319_c/promo_copy_copy_copy_1133821521","model":{"title":"Shell in the Community","text":"\u003Cp\u003EShell aspires to be welcomed in the communities where we operate. 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