Woodside Delays Pluto LNG Start, Raises Cost Estimate
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Woodside Petroleum Ltd., Australia’s second-largest oil producer, said its Pluto liquefied natural gas venture will cost A$900 million ($867 million) more and start about six months later than previously projected.
Spending on the Western Australia LNG project is estimated at A$14 billion, up almost 7 percent from a prior forecast of A$13.1 billion, Woodside said in a statement today. The company attributed the delay to a contractor’s failure to meet design specifications for towers used to burn off excess gas.