Fossil Energy – Browse Natural Gas Project
Shell Australia is selling bp its interests in the carbon-intensive Browse offshore natural gas project, one of Australia’s largest untapped gas fields.
“The Browse asset is no longer a strategic fit in the context of Shell’s global portfolio,” Shell said in a statement last Saturday, without elaborating on the size of the deal. The sale is subject to regulatory approvals.
bp will purchase Shell’s 27% stake, according to a BP spokesperson.
“bp believes development of the Browse gas resources could make a significant contribution to energy security in Australia and to the Asia Pacific region,” the spokesperson said.
The Browse development, which would emit at least 70 million tons of carbon dioxide equivalent over 30 years of operations, has been opposed by climate action campaigners because it will generate more pollution in gas production than other key Australian projects.
