July 6th, 2012
Browse could cost Woodside $45bn, says Citi
The Australian
Matt Chambers
INVESTMENT bank Citi has given a downbeat assessment of Woodside Petroleum’s growth options, saying the Browse LNG project could cost $45 billion and is unlikely to be approved in the next year, while the recently completed Pluto LNG project might not be able to be economically expanded.
“While Woodside is focused on James Price Point, a North West Shelf tieback now looks more attractive on our analysis.”