Australia’s largest untapped gas project sees cost surge by $15 billion due to delays and carbon capture requirements.
Woodside Energy raised its cost estimate for the Browse LNG project to $35 billion, up from a 2019 projection of $20 billion. The increase reflects delays tied to carbon capture and storage (CCS) infrastructure and broader cost pressures.
The Browse to North West Shelf (NWS) project, first proposed in 2018, aims to supply gas from the Calliance, Torosa, and Brecknock fields to the Karratha Gas Plant. Initial estimates pegged total investment at $27.3 billion ($20 billion USD).
No immediate market reaction was reported, though the revised budget may pressure Woodside’s capital expenditure outlook for 2024-2025.