Barnett waves farewell to Browse


Browse fallout continues this afternoon. From the AFR:

West Australian Premier Colin Barnett has said he is “incredibly disappointed” with Woodside’s decision to shelve the $45 billion Kimberley gas hub but in a dramatic change of rhetoric has indicated he would not block the use of floating LNG technology.

“I remain very strongly in support of that gas coming onshore at James Price Point,” he said.

“If the project goes ahead offshore, and I certainly don’t want to see that, it’s still a project that would have significant benefits to Western Australia,” he said.

…“The Japanese want gas, because of the Fukushima earthquake and tidal wave they have closed down their nuclear capacity. They have a desperate need for natural gas to maintain just living standards in Japan,” he said.

“If this project goes offshore it would lose a minimum of two, I think more likely three to five years. That will miss the need of the Japanese customer and it may indeed mean the joint venture itself misses the market opportunity. The opportunity is short term not long term.”

This project is, for all intents and purposes, done.

David Llewellyn-Smith