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It's make or break for LNG as global pressures mount on Woodside and Shell (FROM THE AUSTRALIAN)

A decision to not go ahead with the current plan could well bring to a premature end Australia's great LNG development boom of recent years.
Over a dozen LNG projects have either entered or been earmarked for development in Australia in recent years, opening up the potential for Australia to leapfrog Qatar and become the world's biggest exporter of LNG.
To date, only seven have received final investment decisions and there are growing expectations that there will be no more joining them in development.
The looming decision on Browse is shaping up as a definitive moment in the rein of both Mr Coleman and Ms Pickard.
When he was recruited from global oil and gas giant ExxonMobil in 2010, Mr Coleman was widely seen as a man who would exercise ruthless economic discipline when considering new projects.
Under his predecessor Don Voelte, Woodside had rushed ahead with development of the Pluto LNG project in WA's northwest in the expectation the company would discover enough gas to support an expansion of the plant in the near term.
So far those discoveries simply haven't materialised on the scale desired, leaving Woodside sitting on an LNG project that -- from a cost per tonne of capacity basis -- ranks as one of the most expensive in the world.
The decision on Browse will be Mr Coleman's first real opportunity to exercise the financial discipline that was instilled in him during his 27 years with the famously conservative Exxon.
In contrast to the relentless pursuit of growth that was the hallmark of Mr Voelte's time at the helm of Woodside, Mr Coleman's attitude to Browse will hinge around the bottom line profitability of the project's economics. If the forecast internal rate of return isn't robust enough under a conservative set of assumptions, it's hard to see Mr Coleman doing anything other than send the Browse team back to the drawing board.
For Ms Pickard, meanwhile, there is growing speculation that the upcoming meeting of the joint venture partners could represent the point at which Shell steps up its push for a whole new development approach at Browse.
Shell shocked the market last August when it decided to buy out Chevron's 16.7 per cent stake in Browse for $US450 million in cash and Shell's interests in two other gas fields. Previously, Shell and Chevron had been thought to be aligned in not favouring the development of Browse through James Price Point." (The Australian)