In an interview released on Woodside's website, CEO & Managing Director Peter Coleman explained why his company has decided to delay the Browse LNG at James Price Point near Broome, Western Australia. The Browse development in its current form was granted a retention lease in 2009. The development progressed through a front-end engineering design process and up to and including the consideration of a final investment decision (FID). The company considered the FID and at this point do not believe that it is commercial to proceed. Cost escalation is consistent with other projects in Australia, Coleman said. Unfortunately, costs are such that the current development is not commercial. Various options are being considered for reducing costs and developing the resource, Coleman said.
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