Woodside’s Browse LNG Project Receives Final Investment Decision at US$35 Billion
A new economic impact assessment commissioned by Woodside Energy shows the long-delayed Browse to North West Shelf Project will now cost about US$35 billion, up from US$20 billion estimated in 2019. The project, proposed in 2018, remains in the concept definition phase with key activities continuing toward front-end engineering and design entry.
finance.yahoo.comCom reported. Woodside first proposed the Browse to North West Shelf (NWS) Project in 2018. The project is intended to deliver natural gas from the Calliance, Torosa, and Brecknock fields to the existing Karratha Gas Plant via a 900-kilometre pipeline connected to two floating production storage and offloading facilities.
3 billion, of total investment. The project has been long delayed due to a carbon capture and storage component and more approvals needed. A CCS solution has been incorporated into the offshore design of the Browse project.
4 million tonnes per annum of LNG, LPG, and domestic gas, with peak condensate production rate planned at 50,000 barrels per day. The Browse project is currently in the concept definition phase. Key activities continue in support of progress towards front-end engineering and design entry for the Browse project, Woodside said.
The Deloitte modeling found that the Browse project would deliver a long-term uplift of around US$106 billion, or AUS$147 billion, in gross state product for Western Australia. 7 billion, according to a new economic impact assessment by Deloitte Access Economics.
Australia's government last week mandated energy companies to set aside 20% of their natural gas output for the domestic market.
Key Facts
Story Timeline
4 events- 2018
Woodside first proposed the Browse to North West Shelf Project
1 sourceWoodside Energy - 2019
Cost estimates pointed to US$20 billion (AUS$27.3 billion) total investment
1 sourceWoodside Energy - 2026-05-04
Australian government mandated energy companies to set aside 20% of natural gas output for domestic market
1 sourceAustralian government - 2026-05-11
New Deloitte Access Economics report showed Browse LNG project cost at US$35 billion (AUS$48.7 billion)
2 sourcesOilPrice.com · Deloitte Access Economics
Potential Impact
- 01
New 20% domestic gas reservation mandate adds policy pressure on LNG export projects
- 02
Higher project costs may affect timeline for entering front-end engineering and design phase
- 03
CCS integration could help address regulatory approval delays that have stalled the project since 2018 proposal
- 04
Projected US$106 billion uplift in Western Australia gross state product over long term
Transparency Panel
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