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
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