Apache estimates Wheatstone LNG development costs at US$20 billion

摘要

Apache, the new 16.25% shareholder in the proposed Wheatstone LNG project in Western Australia, has estimated the 8.6 mtpa plant will cost US$20 billion to develop. However Chevron, the project operator, has not set a price-tag on the project which is still in the front-end engineering and design (FEED) phase. It is not planning a final investment decision until mid-2011 and although LNG project costs are expected to fall in the wake of the global recession it is not clear where the contracting market will stand in two years’ time.