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ACCC approves Shell's acquisition of BG Group

Thursday 19th of November 2015 01:59:27 PM



Royal Dutch Shell has been given approval by the Australian Competition and Consumer Commission for its proposed $100 billion acquisition of BG Group.

The ACCC said given Shell's Arrow Energy affiliate in Queensland wasn't focused on supplying domestic customers within the state, and was unlikely to do so in the foreseeable future, the acquisition wouldn't change competition in gas supply on the east coast.

ACCC chairman Rod Sims said the regulator had considered several potential conditions that could be imposed on the deal.

"The ACCC can, however, only accept undertakings where competition concerns arise from the acquisition and it finds that certain undertakings can effectively address those concerns," Mr Sims said in a statement on Thursday.

"In this case, the ACCC did not find merger-specific competition concerns that required an undertaking to remedy."

He said creating an effective undertaking that Shell would have to abide by "would have been extremely difficult in any event".

The decision comes just days after the Northern Territory Government announced that an $800 million North East Gas Interconnector between Tennant Creek and Mount Isa would go ahead.

The 622 kilometre gas pipeline project will create 900 construction jobs and will commercialise the territory’s substantial gas reserves.



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