Browse blow-up delivers an awkward epiphany

Woodside's Browse decision was driven by many factors – green and red tape, LNG pricing reform and a looming US shale surplus among them. It highlights the need for a real resources rethink.

Given the controversies, and the exits of a number of the original interest holders last year, Woodside's decision to ditch the proposed $45 billion onshore development of its Browse LNG project in Western Australia comes as no surprise.

Last year Chevron (through an asset and cash swap with Shell) and BHP Billiton sold out of the project and Woodside itself sold down its interest amid simmering tensions between the project partners about the best way to develop it.

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