Australian energy group Woodside has decided to suspend its Browse floating LNG (FLNG) project in the Browse Basin off Western Australia's Kimberley coast, citing falling commodity prices and cost pressures.
In August 2015, the Federal Department of Environment of Australia approved the project, consisting of up to three floating LNG (FLNG) vessels with a capacity of 3.9-4 Mt/year each. Woodside was expected to make a final investment decision by the end of 2016 with commissioning expected between 2021 and 2024. Woodside holds 30.6% in Browse, in partnership with Shell (27%), BP (13.3%), PetroChina (10.7%) and Japan Australia LNG (Mitsui and Mitsubishi, 14.4%). The companies will prepare a new work programme and budget to progress development activities.
Woodside initially planned to develop a 12 Mt/year onshore LNG terminal but that project was cancelled in April 2013 due to cost escalations.
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