Shell Plc said on Monday it had given the go-ahead to develop the Crux gas field off Australia, which analysts estimated would cost around $2.5 billion.
Construction is expected to start in 2023 with first gas expected in 2027, which will feed the 3.6 million tonne a year Prelude floating liquefied natural gas (FLNG) facility, the oil and gas major said in a statement.
Shell said the project would help its Asian customers move from coal to gas, and also provide a secure supply source, a key factor following the imposition of sanctions on Russia.
Source: Shell
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