Woodside has revealed that building a LNG processing plant at James Price Point was set to cost $80 billion and would have put the company at risk of collapse.
Shell has floated the 488-metre-long hull of its Prelude FLNG facility out of the dry dock in Geoje, South Korea, where it is being built.
Shell has revealed it lobbied the World Bank to halt funding coal-fired plants before the firm announced it would cut lending to the coal sector
Shell has again flagged that the high cost of doing business in Australia is affecting the nation’s competitiveness, urging the federal government to step in.
Floating liquefied natural gas, or FLNG, is not a new idea. But only recently have technological advances and economic drivers provided the opportunity for FLNG to become a commercial reality.
Arrow Energy’s $20 billion plan for an LNG plant on Curtis Island could be halted as its parent company Shell balks at Australia’s increasingly high development costs.
Shell’s $12 billion Prelude floating LNG structure, being built at Samsung’s Geoje Island shipyard in South Korea, has recorded another milestone with the vessel’s hull completed.
Chevron has confirmed the expansion of its Gorgon LNG project has been shelved until the total cost of firing up its three-train facility on Barrow Island is finalised.
Oil and gas giant Shell have teamed up with the Challenger Institute of Technology to develop a world first FLNG specialist training facility in Perth.
Woodside have announced that its Browse partners have signed off on the use of FLNG technology to develop the gasfields off the Kimberley coast.
A West Australian court has declared the state government’s environmental approval of a multi-billion dollar gas hub in the Kimberley as unlawful.
Shell say their Prelude floating LNG project is recruiting on an Australian-first principal, and expect to employ around 1000 people.
A battle is building over the Federal government’s push to for the development of Woodside’s multi-billion-dollar Browse gasfield through FLNG, with West Australian Premier Colin Barnett opposed.
Shell say their Prelude floating LNG project will contribute $45 billion to the Australian economy over the life of the project $12 billion of which would be tax payments.
A senior Santos executive has warned rising development costs could hamstring the LNG industry unless Australian oil and gas companies work together to process gas.
Shell said the development of the world’s first ever floating LNG project is taking shape, with the company confident production will begin in 2016.
Woodside is close to justifying why it pulled out of plans to develop a gas hub at James Price Point as it plans to tell the state and federal government how much the project would have cost to build.
The LNG industry has warned $150 billion dollars worth of investment in Australia could be lost if the high cost of building major projects is not fixed within eighteen months.
Woodside have confirmed they are looking to develop their Browse LNG project with a floating gas processing operation.
With fuel costs rising and companies focusing on the challenges of reducing C02 emissions, many are heralding the LNG boom as a way to offset the energy issues facing the mining industry. Vicky Validakis reports.