Australia's Woodside Slows Down Pace on Pluto LNG Expansion

摘要

Australia's Woodside Petroleum said on Tuesday it had not decided whether to order long-lead items for its Pluto-2 LNG expansion, suggesting the company is still struggling to prove up reserves and secure third-party supplies for the project. The latest comments mark a U-turn in plans unveiled last year by former Woodside boss Don Voelte, who said long-lead items would be ordered this year to allow Pluto-2 to start up by the end of 2014 (IOD Dec.1'10). It is now unclear whether Wood-side will move ahead with a final investment decision this year, as envisaged by Voelte. The company has already announced a six-month delay and a A$900 million (US$940 million) cost overrun at the first Pluto train, pushing back the start-up date to March next year, because of "slower than expected" progress commissioning the onshore plant in Western Australia (IOD Aug.19'10).