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    The Independent: Shell Set to Cut North Sea and Arctic Operations After Mega-Deal

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Summary

Dutch major Shell may move its focus from the North Sea and the Arctic to pursue LNG and deepwater interests, a move in line with their BG Group purchase

by: Erica Mills

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The Independent: Shell Set to Cut North Sea and Arctic Operations After Mega-Deal

Shell raised the prospect of withdrawing from the Arctic and scaling down its North Sea operations as it announced the largest deal in the industry for a decade – the £47bn takeover of BG Group, which will focus the business more narrowly on liquefied natural gas (LNG) and deep water oil and gas production.

As Shell took out an injunction against the six Greenpeace activists who boarded its Alaskan-bound drilling rig on Monday, its chief financial officer Simon Henry made the clearest statement yet that the company may  walk away from the region it has been pursuing for a decade.

The group also downplayed the significance of the North Sea in its operation because it does not fit into its key “themes” of LNG and Deep Water production.

Read the full article HERE.

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