Japanese firms exit Browse LNG deal

摘要

Japanese trading houses Mitsui and Mitsubishi have pulled out of a longterm agreement to buy 1.5mn t/yr of LNG from the proposed Browse LNG project in Western Australia. The deal was agreed when the Mimi joint venture between Mitsui and Mitsubishi took a 14.7pc stake in Browse in May 2012. But the agreement was conditional on the 12mn t/yr project receiving a final investment decision by the end of 2013. In April, Australian independent Woodside Petroleum scrapped plans for a land-based LNG project to develop the Browse gas field after deeming it commercially unviable, and is considering a floating LNG project. Woodside and Mimi agreed in December to jointly sell LNG to Asia-Pacific customers.