CANBERRA, April 12 (Reuters) - Australian oil and gasproducer Woodside Petroleum is expected to shelve plansfor its $30 billion Browse liquefied natural gas project atJames Price Point, according to media reports on Friday.
The paper said the decision, to be announced as early asFriday, was made because the huge venture could not beprofitably developed as proposed. Some of the venture partnersprefer the project to use a floating gas plant rather than theproposed James Price Point location.
Browse LNG has been plagued by controversy over its proposedlocation at James Price Point on the northwestern coast ofAustralia, which has been opposed by some project partners,environmentalists and Aboriginal landowners.
Woodside was scheduled to make a decision on whether to goforward with the James Price Point location for the project bythe middle of the year.
Western Australian state Premier Colin Barnett on Thursdaytold state parliament that he had held talks with Woodside, buthad not be informed of a decision.
"I have continual discussions with Woodside and it's not forme to comment publicly, particularly to market-sensitiveinformation, as to what decisions might be," Barnett said onThursday.
"By July we will know what the situation is. I have notreceived advice to that effect from the joint venture partnersat all."
"They are collectively to make a decision, a finalinvestment decision around June-July this year, that is theprocess."
China's PetroChina co Ltd last December agreedto pay $1.63 billion to buy a minority stake in the LNG projectfrom BHP Billiton, joining other joint venture partnersRoyal Dutch Shell Plc, BP, Japan's Mitsui & Co and Mitsubishi Corp.