Bernstein: Ichthys may overrun costs 30%, start as late as 2018

摘要

Inpex Corp, may start production of LNG from its Ichthys project in Western Australia as late as 2018, and at a higher cost than originally projected, Bloomberg reported, citing Sanford C. Bernstein & Co. The project may cost as much as US$44.2 billion, up 30 percent from the US$34 billion the company estimated last year, Neil Beveridge, an analyst at Bernstein, wrote in the report. "LNG projects typically over-run on cost by 30 percent from the sanction estimate and are delivered 12-18 months late relative to schedule," Beveridge said. "Based on what we have seen so far, it would seem highly likely that Ichthys will experience the same fate."