LNG (LIQUIFIED NATURAL GAS)

Arrow accepts revised $3.4B Shell-PetroChina bid

ARROW Energy has accepted Shell and PetroChina's increased bid of $4.70 cash per share, potentially leaving Liquefied Natural Gas Ltd without a source of gas for its Fisherman's Landing LNG project in Gladstone, Queensland.

The new offer values Arrow at about 58c per gigajoule of proved, probable and possible coal seam gas reserves, well below the amount of $1.65 Petronas paid to Santos and 88c Origin received for its 3P...

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