-New joint venture to be formed for shell-led integrated gas & liquids development with equity participating interest to be held by Shell 80%(operator), Nexus 17% and Osaka Gas 3%.
-New joint venture will supercede current arrangements with Shellonce finalised
-Base case development option is for Crux to become part of the Prelude Floating LNG project
-Nexus to have a 12 Mnths opt to sell @ 2% participating interest in the new joint venture for $75 mil.
_The Shell-led integrated development substantially increases Nexus shareholder value for the Crux asset
announcement now out
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