Forbes: Approval Delays Push Australia’s Woodside Closer To The U.S. Tim Treadgold
Energy investment opportunities in the U.S. are proving irresistible for Woodside Energy, Australia’s biggest oil and gas company, which has made two major U.S. moves in the last three weeks after a project at home hit approval obstacles.
A $1.2 billion investment in a Louisiana liquefied natural gas (LNG) project last month was followed yesterday by a $2.35 billion investment in a Texas gas to ammonia project.
The deals came at almost the same time Woodside was told by Australian government officials that its biggest proposed development at home, the $30 billion Browse LNG project, might not win environmental approval.
Strict regulations being enforced by Australia’s green/left governments at a national and State level have threatened to derail a number of resource projects, including alumina refineries operated by U.S. based Alcoa and Australia’s South32.
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