Saturday, June 23, 2012

Woodside unconcerned by Browse loss

Woodside unconcerned by Browse loss: There has been legal action from opponents of the project, including local indigenous people, who say the gas hub would damage pristine marine environments and sacred sites.

Its joint venture partners in the project, such as global giants BHP Billiton, BP, Chevron and Shell are divided on whether it would be better to process versus piping the gas to the North West Shelf.


  1. Well if I'd just lost $45 billion I wouldn't give a damn either.Chump change.
    Woodside are not in the position Voelte claimed back in 2007,but Coleman carries on as if they were.
    Voeltes claims back then on gas prices staying high,and later that fraccing will never compete with LNG have been proved wrong.He painted a big rosy picture and the shares went up and up.Governments got sucked in just like the investors.
    Hence all the mad rush and poor site selection.
    We mustn't forget a FID is due on Pluto expansion to 2 or 3 trains,in an area up for World Heritage listing.They could have built it anywhere,like Apache has done,but no they had to choose the most unsuitable site.As they have with JPP.And there's the issue with Timor Leste over Greater Sunrise.
    Everyone on the planet is going hell for leather to get into the Asian gas market as prices are higher than anywhere else.This includes the Europeans,the Yanks,the Canadians,the East Africans,South Americans and so forth.The pressure on prices are down and down.
    So where is this Australian LNG paradise Woodside and Barnett keep going on about?
    It's not there,it is just a dream that they had way back in the past.Reality has yet to burst their bubble,so much corporate and political reputation has been put into this,they cannot and will not see the truth.
    Russia however is fully aware of the dangers posed by fraccing in Asia and competition from other areas.Putin will not sit idle while his countries future gets flared off by the competition.He has huge plans to get Russian gas into Asia and the Russians are going pedal to the metal to get there.

    "To date, Gazprom considers LNG as top priority in gas supplies to Asia-Pacific. The Company is elaborating the Feasibility Study for an LNG plant construction near Vladivostok. Moreover, Sakhalin Energy is carrying out pre-FEED studies on expanding the Sakhalin II project production facilities, particularly construction of the third LNG train at the plant.

    The issues surrounding pipeline gas supplies to Asia-Pacific are being tackled. Gazprom and Chinese CNPC carry on negotiations over the commercial parameters of Russian gas supplies to the People's Republic of China via the “western” and “eastern” routes supposed to export up to 68 billion cubic meters of gas per year. Gazprom and South Korean KOGAS are studying a project for the trans-Korean gas pipeline construction."

    Yes everyone is going flat out to meet Asian demand,except for Woodside who are mired in corruption and bad decision making caused by the loud mouth yank Voelte,and now with Coleman continueing on with the illusion of arrogance that in reality went out the window back in 2008!

    As for Barnett,well his plans are unravelling so fast his head must be spinning,including this in the Nationals.

    Only good news for these corrupt oil and gas types is that Cheneys daughter has married her girlfriend,they have two kids.

  2. True to say the obsession with Prices Point is undermining decision making.
    The Broome Chamber of Commerce told everyone to sell their mothers to get finance for all the work in 2011.Gas is go!
    There wasn't much work in 2011.
    2012 will be a disaster because no gas plant.
    There is a lot more work around this year.

    The port seems to think they will have a new port at JPP.They wont.
    So are we heading into the mother of all bottlenecks because of more flawed decision making?
    This would mean Broome missing out on huge amounts of work which will flow from Shell,Inpex and others going into development phases.
    "We haven't the room at the port to be a major supply base."Port Hedland has Wedgefield,last time I looked that was over 20 kilometres away.
    The stupid boat harbour in the middle of Broomes biggest rip?

    Fair to say the Shire and the BCC are into epic fail over the Prices Point obsession.

    Any government with half a brain would see a bird in the hand is worth two in the bush and be gearing up our port for the real boom in Broome,and not dithering on some pie in the sky proposal that may or may not happen.

    It's time the pro gas Broome business community stood up and demanded some action on this,because if they don't we stand to loose the lot.
    Proctor is a dunce,get over it and do something positive why don't you.

  3. Had to laugh.
    On Alan Kohlers "Business Sunday" this morning the stock market analyst ran through several happenings on the market.
    Myer's stock at record low.
    Rio investing $4 billion in the Pilbara but mining services still going down.
    And so on.
    Then he got to the Woodside item.Which went something like this:
    "Woodside have lost billions of dollars after a contract to buy gas expired."
    Kohler,"Something like $43 billion."
    "Yes that's right.When this was first announced back in 2007 with much fanfare and front page headlines,it was a huge deal for Woodside.However now that they've lost it they just don't care apparently."

    No one believes them.