Shell could get regulatory approval for BG before year-end

Shell will take another step closer to achieving its planned £55bn takeover of BG Group before the year-end, according to reports.

The oil producer is awaiting the decision of Chinese and Australian regulators, the final countries to give their verdict on the tie-up before shareholders vote.

According to sources cited by the Sunday Telegraph, both China's Mofcom and the Australian Investment Review Board are expected to give the deal the thumbs up.

Shell chief executive Ben van Beurden has reportedly been holding meetings with China's ministry of commerce president, Gao Hucheng.

If the deal goes ahead, it will form the largest public company in Britain and the biggest liquified natural gas producer in the world.

"We are working positively with Mofcom and are hopeful of a positive decision," Shell said.

"But it is up to them to decide and we expect they will carry out a thorough and professional review."

If cleared, it will be left to shareholders to make the final decision. To go ahead, the deal needs the support of 50.1% of Shell investors and 75% of BG Group investors.