Shell Says To Invest $30 Billion In Australia Over Five Years

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Royal Dutch Shell (RDSa.L) plans to invest $30 billion in Australia over the next five years, the firm's outgoing chief executive Peter Voser said in a speech at an industry conference on Monday.

File photo of Royal Dutch Shell's CEO Peter Voser at the 4th quarter and full year results presentation in London

Royal Dutch Shell (RDSa.L) plans to invest $30 billion in Australia over the next five years, the firm's outgoing chief executive Peter Voser said in a speech at an industry conference on Monday.

Voser, who built the oil company into a leader in liquefied natural gas, announced his retirement earlier this month.

Shell has invested in gas projects in Australia and its Arrow LNG project is one of four gas export plants that was planned for Queensland's Curtis Island, but the project is widely expected to be abandoned in favour of selling its gas resources to rival projects.

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