By ROSS KELLY
SYDNEY -- Woodside Petroleum on Tuesday said it has agreed
to look at Royal Dutch Shell's technology for processing natural
gas at sea as a way to develop its Browse resource offshore
The move comes just a
fortnight after Woodside and partners in the Browse joint
venture, which include Shell, abandoned plans for an $40
billion onshore liquefied natural gas, or LNG, development due
to its high cost.
At that time, Shell said its floating LNG technology was the fastest and most
economic way to develop Browse.
In a statement Tuesday, Woodside CEO Peter Coleman said he
now agreed that floating LNG could be the quickest way to
develop Browse, which contains an estimated 15.5 trillion cubic
feet of natural gas.
All partners will need to approve floating LNG or another
development plan before construction could go ahead. Other
investors in Browse include BP, Mitsubishi and Mitsui.
Dow Jones Newswires