The falling dominoes that are major liquefied natural gas (LNG) projects show that the industry needs a re-think on how it is structured and operates. Up until now LNG has largely been about massive and costly projects undertaken by international majors on the basis that the billions of dollars being invested is guaranteed to make a good return because of long-term sales contracts to utilities. But the scrapping of Woodside Petroleum’s Browse floating LNG project off the coast of Western Australian state goes a long way to confirm that the model that has so far underpinned the development of the industry is no longer viable. Woodside, which operates Australia’s giant Northwest Shelf […]

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