Woodside Slows Progress on Browse LNG Development
16 December 2014 - 9:25AM
Dow Jones News
By Ross Kelly
SYDNEY--Woodside Petroleum Ltd. (WPL.AU) said Tuesday it's
delayed making a decision on whether to proceed with the Browse
gas-export joint venture.
Woodside and partners including Royal Dutch Shell PLC (RDSA.LN)
and BP PLC (BP.LN) will now target a final investment decision in
mid-2016, back from previous guidance of the second half of 2015,
Woodside said.
Analysts estimate the floating liquefied natural gas project
could cost around US$40 billion to build.
LNG is typically sold in contracts linked to the oil price,
which has tumbled in recent months due to a global supply glut.
Write to Ross Kelly at ross.kelly@wsj.com
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