Shell building $10B gas-chilling boat

Shell (RDS.A) has commissioned the construction of a $10B 1,600-feet long vessel that will chill natural gas into liquid at the point of extraction and pump it into waiting tankers for transportation to shore. The vessel, known as the Prelude, will enable Shell to develop fields that are too small or far-flung for expensive pipelines and other infrastructure.

Exxon is considering a similar gas-harvesting boat.

Separately, Shell has agreed to sell a 23% stake in the Parque das Conchas oil project off the coast of the Brazil to Qatar Petroleum International for $1B.

While the deal is part of Shell's strategy to sell assets, the company will retain a 50% holding in the project and will continue to operate it. (PR)

From other sites
Comments (7)
  • Upstreamer
    , contributor
    Comments (100) | Send Message
    gas-chilling/gas-harve... boat? really? While I cant access the WSJ article, those words sound rather amateur.
    29 Jan 2014, 03:30 AM Reply Like
  • divtra
    , contributor
    Comments (164) | Send Message
    I am just extremely puzzled about date of this WSJ article. Is this considered current news??


    If you do a cursory web search, you will find tons of articles (and video!) about Shell's Prelude's half finished being floated down the Samsung Heavy Industries dock in December of 2013. Quite impressive actually.


    Also, the whole project was announced and started some 3 years ago.
    29 Jan 2014, 03:43 AM Reply Like
  • rjj1960
    , contributor
    Comments (1478) | Send Message
    This article is late to the party, very late.
    29 Jan 2014, 05:26 AM Reply Like
  • bd4uandu
    , contributor
    Comments (2074) | Send Message
    29 Jan 2014, 08:51 AM Reply Like
  • J Mintzmyer
    , contributor
    Comments (8868) | Send Message
    $10B.... Ouch. That's the most expensive 'boat' I've seen by many multiples.


    Then again pipeline tech and processing plants can easily cost 3-5x that much.
    29 Jan 2014, 11:03 AM Reply Like
  • Upstreamer
    , contributor
    Comments (100) | Send Message
    Well not every boat can [sic] "harvest gas"!
    29 Jan 2014, 11:36 AM Reply Like
  • john001
    , contributor
    Comments (1217) | Send Message
    this announcement brings a totally new meaning to "breaking news".
    29 Jan 2014, 11:06 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs