Woodside CEO sees first Browse LNG in mid-2020s

Northwest Seaeagle at the Karratha gas plant, Western Australia (Image: Woodside)

Woodside Chief Executive Peter Coleman said Friday that the company expects first liquefied natural gas (LNG) produced from its Browse field offshore Western Australia in the mid-2020s.

Speaking at the company’s annual general meeting, Coleman confirmed that is more likely the natural gas from the Browse field would be processed onshore instead of a floating LNG option.

Coleman said in February this year the gas the Browse and Scarborough fields could be processed at the Burrup LNG hub where the Pluto and the Nort West Shelf projects are located.

“As you know, we have worked for some years to find the right development concept for the worldclass Browse resources. I’m very excited about where we are headed,” the CEO said.

“Now conditions are aligning for us to look closely at an opportunity to basically double the life of the North West Shelf by bringing the Browse resources into it. Utilising the existing facilities has the dual advantage of ensuring the most efficient use of capital while minimising risk by relying on proven technologies.”

Woodside is the operator of both Browse and the North West Shelf and is “well-placed to make this happen and we are talking to joint venture participants in both assets.”

“It’s still early days but we think this is a compelling option and could be achieved at a competitive price and in a reasonable timeframe,” Coleman said.

Factors such as the growth in demand from new markets and the current “challenging” conditions for new large-scale developments may accelerate a tightening in LNG supplies, which could, according to Coleman, boost the Browse development.

“These factors point to a supply shortfall in the 2020s, adding to the case for developing Browse. We anticipate that first gas from Browse could enter the North West Shelf plant from the mid-2020s, coinciding with the forecast supply crunch,” Coleman said.

The Browse development aims to commercialize the Brecknock, Calliance and Torosa fields containing gross contingent resources (2C) of 15.4 trillion cubic feet of dry gas and 453 million barrels of condensate.

Woodside and its partners in the Browse JV in March 2016 delayed the multi-billion Browse LNG project due to low oil prices.

Woodside’s participating interest in the Browse resources is 30.6%, Shell owns 27% in the Browse JV while BP holds a 17.33% stake. Japan Australia LNG (MIMI Browse) has a 14.40% stake in the JV, and PetroChina holds a 10.67% stake.

 

LNG World News Staff

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