Shell greenlights $6.4 billion Australia natural gas project

SYDNEY (Reuters) - Royal Dutch Shell said on Friday it had taken a final investment decision to develop the first phase of Australia's biggest coal seam gas resource in Queensland state. The first phase of the A$10 billion (5.12 billion pounds) Surat Gas Project would bring as much as 90 billion cubic feet per year of new natural gas to market at peak production, Shell said in a statement.The project is being developed by a Shell and PetroChina joint venture called Arrow Energy. Construction..