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Woodside Considers LNG Project in Canada After Government Accord

Jan. 17 (Bloomberg) -- Woodside Petroleum Ltd., Australia’s second-largest oil producer, may develop a liquefied natural gas project in western Canada after receiving British Columbia’s approval to go ahead with a potential plant.

Woodside was awarded exclusive rights for the initial stage needed to build an export project at Grassy Point, according to a statement yesterday from the province of British Columbia. The Perth-based company must obtain an export license within a year and regulatory approvals, the government said.

Cnooc Ltd., China’s biggest offshore oil and gas producer, is also considering an LNG project in western Canada and possibly exporting the fuel to China, it said in November. More than 10 LNG projects are under consideration in British Columbia as producers look to benefit from higher gas prices in Asia.

Woodside will work with British Columbia “as we assess the feasibility of an LNG development,” Chief Executive Officer Peter Coleman said in the statement from the province.

Woodside, operator of the Pluto and North West Shelf LNG projects in Australia, is pushing ahead with expansion overseas as its proposed Browse and Sunrise LNG ventures face delays.

To contact the reporter on this story: James Paton in Sydney at jpaton4@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net

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