I don't think we'll have an update until September 2011.
I've also read that Shell will be onboard until the summer of 2012.
Shell has set a deadline of Aug. 31 for any bids. Some of Calgary’s most senior bankers were caught off guard by Shell’s decision and noted that the assets will be tricky to sell. One possible buyer could be Korea Gas Corp., which has shown recent interest in the region because it hopes to export gas in liquid form. South Korea is the world’s top importer of liquefied natural gas.
While Mr. Doolan said Shell “believes the project is important for Canada,” the company has calculated it can make more money on other assets. Mr. Doolan added that selling assets is a key part of Shell’s “portfolio-based strategy” and that it looks at what it owns to figure out what combination will make its shareholders the most money.
C:\Users\owner\Desktop\Shell pulls the pin on Mackenzie Delta - The Globe and Mail.htm
Shell moves out?
Imperial Oil Ltd (IMO.TO), the lead partner in the five-member consortium that has backed the project for more than a decade, still plans to go ahead with the line, its chief executive said on Friday. "We're still committed to try to make this project go forward," Bruce March told Reuters. "We're just pleased that (Shell) is getting started with the marketing effort."
"We're just pleased that (Shell) is getting started with the marketing effort."
Imperial Oil said on Friday that it remains fully committed to seeing the pipeline go ahead. The company would not comment on Shell's business decision.
Shell, which has been backing the Mackenzie project since 2004, does not plan to withdraw from it until June 2012. Those who want to bid on Shell's assets have until Aug. 31. "does not plan to withdraw from it until June 2012" (Why the one year wait?)
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