Inform

Browse JV maintains investment discipline in declining FID

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

For further information about this report submit the form below.

Report summary

On 23 March Woodside announced that the Browse FLNG project would not take FID. The project was to involve a three vessel FLNG concept operated by Woodside on behalf of the other JV partners (Shell BP PetroChina Mitsubishi and Mitsui). Estimated project costs of US$32 billion and the resultant high breakevens substantial technical and commercial risk and a weak LNG market all contributed to the decision. It leaves the most likely development option for Browse as backfill for North West Shelf LNG which is forecast to have capacity from 2023. The decision also has marked implications for Woodside and Shell: for Woodside it leaves a big hole in its portfolio that it needs to address; for Shell coupled with the Abadi announcement on the same day it raises questions over large scale greenfield FLNG as a concept.

What's included

This report contains

  • Document

    Browse JV maintains investment discipline in declining FID

    PDF 970.91 KB

Table of contents

No table of contents specified

Tables and charts

This report includes 1 images and tables including:

Images

  • Browse development FOB breakeven costs at 10% discount rate

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898