Shell has the go-ahead to create the world's biggest liequefied natural gas (LNG) project in Australia.

Along with partners Chevron and ExxonMobil, the British oil giant has agreed to build the Gorgon LNG for £37billion. 

It is expected to produce 8 per cent of the world's LNG once in production in 2014.

Demand for it is expected to boom in the growing Asian economies, and Australia is expected to become the second biggest exporter after Qatar.

A Liquid Natural Gas tanker ship

Shell owns a 25 per cent stake in the project. The petrochemicals giants are keen on LNG as the liquid form of gas is easily transported by boat, with no need for expensive pipelines to be built

Many contractors will be celebrating the long-delayed project, including London Stock Exchange-listed Kentz Corporation, which is expected to be involved.

Kentz saw pre-tax profits rise to £11.1million in the six months to June 30 from the same period last year.

Read more: http://www.dailymail.co.uk/money/article-1213342/Go-ahead-worlds-largest-liquified-nat.html#ixzz0Sr3Tn8RJ

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