Woodside defers FIDs on Australian LNG projects on economy, COVID-19

S&P Global Platts | Mar 27, 2020 at 5:17 AM
  • Australian’s biggest LNG exporter Woodside is deferring targeted final investment decisions for its Scarborough, Pluto Train 2 and Browse projects in response to the uncertain global investment environment caused by the COVID-19 pandemic and the oversupply of crude oil and LNG.
  • Woodside has pushed back the expected FIDs for Scarborough and Pluto Train 2 to 2021.
  • This includes an approximately $100 million reduction in operating expenditure and an approximately 60% cut in investment expenditure to $1.7 billion–$1.9 billion.