Australia's Woodside aims to hit go on $11 billion gas project in early 2020

17/10/2019 14:09 Natural Gas

news

Woodside Petroleum Ltd has pushed out the final approval date for its mammoth Browse gas project but slightly brought forward plans to sign off on its smaller Scarborough project as it races to fill an anticipated global supply gap.

Woodside, Australia’s top independent gas producer, said on Thursday it is now targeting a final investment decision on the $20.5 billion Browse project in the first half of 2021 as it continues to wrangle with its partners. It had previously expected approval in late 2020.

 

However, Woodside also said it now aims to sign off on the $11 billion Scarborough gas project and Pluto LNG expansion in early 2020, as opposed to the first half of 2020.

 

“We feel very motivated and confident about the timetables that we’ve laid out,” Woodside Chief Financial Officer Sherry Duhe told Reuters in an interview.

 

“Our competition is global,” Duhe added. “The entire global LNG community has obviously seen that there’s a supply gap that’s sitting out there once we get past 2021, 2022, and we believe that our projects are perfectly timed.”

 

The faster timetable for the Scarborough project is dependent on Woodside reaching an agreement with its partner BHP Group on a price for processing gas from the field at the Pluto plant.

Source: reuters.com

‘Hydrogen is the rockstar of the energy system’

09/07/2020 09:05:00

The European Commission has pledged to support the installation of at least 6GW of renewable hydrogen electrolysers in the EU by 2024

<READ MORE

Vestas wins 166MW Polish order

09/07/2020 09:01:00

Two projects will comprise 48 V126-3.45MW turbines

READ MORE

Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability

08/07/2020 11:15:00

Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.

READ MORE