Hess has signed a non-binding Letter of Intent with the North West Shelf LNG JV to develop its deepwater Equus gas, offshore northwest Australia. Hess aims to toll the gas through the NWS LNG plant, and market the LNG. FID is not expected before 2017. For Hess, it will be challenging to find a cost-effective development solution for 13 small dry gas fields in over 1,000 metres of water. For the NWS, this is a clear indication the consortium is ‘open for business’ with third party gas owners.