Nexus: Big Companies Chasing Crux Stake (Australia)

Melbourne-based Nexus Energy said that the company has been approached by several large energy companies expressing interest to acquire part of Nexus’ Crux equity in the new joint venture in order to secure access to long term LNG rights.

Nexus Energy in January signed a non-binding heads of agreement with Shell Development (Australia) and Osaka Gas Crux Pty Ltd to pursue a Shell-led integrated gas and liquids development to commercialise the Crux asset.

Chairman Michael Fowler said, “The industry has expressed considerable interest in our Crux asset. This transaction provides Nexus with certainty for commercialisation of the Crux asset with planned production through Shell’s Floating LNG project with a substantial interest and exposure to future LNG sales. These LNG off take rights are a primary focus for many countries around the world needing to secure energy reserves.”

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LNG World News Staff, March 14, 2012