Coleman to face Browse grilling
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Woodside Petroleum (WPL) chief executive Peter Coleman is expected to face a grilling over the company's swift decision to pursue a floating liquefied natural gas (LNG) platform at its Browse project.
On Tuesday, Woodside announced it would pursue the development via floating LNG technology, a move that had been opposed by West Australian premier Colin Barnett, as the onshore option would have resulted in more jobs for the state.
The timing of the decision, rather than the decision itself, caught many investors and analysts off-guard.
Woodside announced in April that it had scrapped plans for an LNG plant at James Price Point due to high operating costs.
Mr Coleman is expected to provide more details about the decision-making process while announcing Woodside's half-year results Wednesday.
Woodside has been under pressure over its plans for the Browse project amid a dearth of other medium-term growth projects. The company has no major growth projects planned for development in the next three years, The Australian noted.
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