“The floating LNG technology proposed for this project is cutting edge and opens up new opportunities to develop gas resources that could otherwise be stranded – Shell’s landmark Prelude FLNG Project will showcase this technology when it arrives in the Browse Basin in 2017.”
After originally proposing the onshore Browse LNG Development near James Price Point, Western Australia, Woodside determined that the development concept did not meet the company’s commercial requirements for a positive final investment decision in April 2013.
FEED WORK WELL UNDERWAY
In light of the principles agreement, the Browse joint venture, which includes Woodside as operator, along with Shell Development Australia, BP Developments Australia, Japan Australia LNG (MIMI Browse) Pty Ltd and PetroChina, agreed to commence the front-end engineering and design (FEED) phase of the project on 30 June 2015.
The FEED phase will involve finalising costs and technical definition, taking into account the composition of gas, local weather conditions and factors specific to the project’s gas fields to enable a final investment decision (FID), targeted for the second half of 2016.
Shell Australia Country Chair Andrew Smith says the move into FEED was a positive step for the project.
“The Browse gas fields are a significant national resource, and this announcement is a clear step forward,” Mr Smith says.