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Friday, 05 December, 2008, 17:40 GMT | more >>

Woodside green lights Pluto LNG



By Upstream staff 

Woodside Petroleum has today approved the Pluto liquefied natural gas project off the coast of Western Australia, which is expected to cost more than A$12 billion ($10.5 billion).

Woodside said it had spent about A$769 million on all phases of the Pluto gas field and LNG development and the board had approved an additional funding of up to A$11.2 billion.

Furrther works, which include the compression and tie-in of the nearby Xena gas field, would require additional funding approval, it said.

Woodside said the Pluto project had been sanctioned subject to environmental and other regulatory approvals from the state and federal governments, which it expected to receive soon.

The Pluto LNG project, estimated to hold 5 trillion cubic feet of gas, would have a processing capacity of 4.8 million tonnes per year and is targeting first deliveries to Japanese customers Kansai Electric and Tokyo Gas by late 2010, Reuters said.

Australia currently has five other LNG projects in varying stages of development, such as BHP Billiton's proposed Scarborough development, Woodside's Browse and Sunrise fields, Inpex's Ichthys field and Chevron's giant Gorgon project.


Friday, 27 July, 2007, 05:44 GMT  | last updated: Friday, 27 July, 2007, 05:44 GMT

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