Via the AFR:
Royal Dutch Shell has marked a milestone in its ground-breaking Prelude floating LNG project off north-west Australia, with the departure of the massive vessel from the South Korean shipyard where it was built towards its final location.
The Prelude vessel – the world’s biggest floating structure – started its month-long journey on Thursday under tow from the Samsung Heavy Industries yard in Geoje towards the Browse Basin off Australia’s far north-west coast.
Construction of the vessel, which is longer than four soccer fields and displaces six times as much water as the largest aircraft carrier, began in 2012.
But the huge achievement was somewhat marred by information from an industry consultant that the capital cost of the project has escalated due to competition for resources in the shipyard and challenges in construction of the complex vessel.
Sail it in, extract the gas without even using local labour, facilities or materials, pay no tax using transfer pricing, and sail it out.
Strayan made.
