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Shell CEO: Australia's Natural Gas Industry Facing More Challenges: Reports

Australia's natural gas industry is facing significant challenges, including rising costs and increasing competition from energy producers in North America, Asia and East Africa, the Chief Executive Officer of European oil giant Royal Dutch Shell Plc (RDS-A, RDSA.L, RDSB.L, RDS-B) Peter Voser said in an industry conference, according to reports.

The comments of Peter Voser may raise the expectations that Royal Dutch Shell could abandon or delay construction of an LNG plants in Queensland owned by its Arrow Energy joint venture with PetroChina Co. (PTR).

However, Voser, who will retire in the first half of 2014, reportedly said that the company plans to spend about US$30 billion in Australia over the next five years.

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