Monday, February 4, 2013

Royal Dutch Shell slows decisions on LNG projects | The Australian

Royal Dutch Shell slows decisions on LNG projects | The Australian

The James Price Point option would see oil giants pay compensation worth $1.3 billion to local Aboriginals. Supporters say the onshore option would give the State Government the ability to foster industry in the Kimberley and would allow the development of other gas fields off the far North West.
While it is generally known that Shell, which is a major partner in the Browse field with Woodside, opposes processing the gas on land because of price fears, the company has so far downplayed its position, making Voser's comments a significant slap in the face to the WA Government.
Mr Voser said its floating LNG venture in Abadi in Indonesia was likely to be its next Project in the Asia Pacific and its gas resources off Exmouth, including Browse - which it shares with partners including Woodside - could "become floating LNG".
JPMorgan has calculated that James Price Point will cost $50.6 billion, compared with $41.2 billion for floating LNG.

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