Tuesday 29 June 2010

ETS delay prelude to Shell dispute

Summaries - Australian Financial Review
Monday 21/6/2010 Page: 18

Royal Dutch Shell's refusal to commit to specific measures to minimise greenhouse gas emissions has put its bid to secure environmental approval for its Prelude floating liquefied natural gas (LNG) project off WA into jeopardy. The office of Environment Minister Peter Garrett was due to place a ruling on the $5.7 billion project by April 30, although that has been extended until this Friday amid difficulty between Shell and the Department of Environment, Water, Heritage and the Arts. Australia's emissions trading scheme lies at the core of the issue, casting uncertainty over the regulatory framework that will be in place to offset the emissions when LNG production begins at Prelude in six years.

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