Shell’s Takeover of BG Overcomes Australian Competition Hurdle

Royal Dutch Shell announced on Thursday its recommended merger with BG Group has received unconditional clearance from the Australian Competition and Consumer Commission.

According to Australia’s competition watchdog, the $70 billion takeover of BG Group will not have significant consequences on the competitiveness of the domestic market.  

“The addition of BG's integrated gas assets in Australia to Shell's global portfolio is one of the main strategic drivers behind the recommended combination, making ACCC approval a major step forward for the deal,” Shell CEO Ben van Beurden said in a statement. 

QGC Pty Limited is the Australian business of BG Group plc. In December 2014, QGC became the world’s first producer of LNG from natural gas sourced from coal seams.