Partners abandon Australia LNG venture
Australia Woodside Energy LNG Tanker
“Woodside remains committed to the earliest commercial development of the world-class Browse resources and to FLNG as the preferred solution, but the economic environment is not supportive of a major LNG investment at this time,” a company statement read.
With the front-end engineering and design work completed, Woodside and its partners were targeting a final investment decision on the project by the second half of 2016. The Browse Basin fields, located at depths of some 750 m, are estimated to hold contingent resources of 436 bcm (15.4 tcf) of natural gas and 453 million barrels of condensates.
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