The confirmation that Browse is not economic at JPP and the sp rises says that the market likes the deferral. It also says that the market likes the discipline of WPL to call it like it is and to protect shareholder value.
The options discussed for Browse of
a) FLNG
b) Smaller facility at JPP
c) Piping to NWS
from my understanding all mean less capex, but slower increased production.
The announcement today gives WPL the ability to progress Leviathan and Pluto II (if and when enough gas is found) without stretching the bal sheet.
A good decision Peter and well done!!!!
HT1
P.S. xerxes_ph - it closed above the upper resistance.
$45b browse gas hub dead, page-8
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