Woodside Pushes Browse LNG Decision to Next Year

Woodside Petroleum has decided to delay its final decision on its $30 billion Browse LNG project.

The Perth based firm will make a decision regarding the investment plans for the LNG project proposed for James Price Point near Broome by middle of next year.

The decision to push the deadline was approved by the Federal and Western Australian governments on Monday. Woodside said that the decision will allow more time for engineering and design work.

“The variation will allow time to better evaluate the outcomes of front-end engineering and design work and the results of the tender processes for the development’s major contracts,” Woodside said. The revised timetable will also allow more time to complete necessary assurance activities, the company added.

Woodside, had planned to make a final investment decision by the middle of this year. It originally planned to start the James Price Point project by 2011, but is now aiming for first production in 2017.