Shell Pleased With Pricing On China LNG Deal

Royal Dutch Shell PLC said Tuesday it was pleased with the price it has struck in its agreement to sell liquified natural gas from the Gorgon field in Western Australia to PetroChina Co. (PTR).

"It is a strong LNG market at the moment," said Jon Chadwick, executive vice- president of Shell Gas and Power Asia.

Chadwick told reporters in Perth that Shell was "pleased with the price" set in its deal with PetroChina.

Earlier Tuesday, Shell signed an agreement with PetroChina for the sale of one million metric tons of LNG a year from Gorgon, subject to the project's approval by Shell and its joint venture partners Chevron Corp. and ExxonMobil Corp.