Woodside approves $1.2Bln Pluto LNG funding

Friday, 08 December 2006
The Pluto LNG development is scheduled to begin supplying LNG to Japanese customers Kansai Electric Co. and Tokyo Gas Co. by the end of 2010. The approval allows funding for site preparation and long lead items ahead of a final investment decision, the company said in a statement. “The Board remains on schedule to consider a final investment decision on the Pluto development by mid 2007,” Woodside said. Site preparation for the venture will begin once national environmental approval is received. State approval for site works has already been granted. The appraisal drilling at Pluto has come in as expected and design work has started for an onshore plant with capacity of 5 to 7 million tonnes per annum of LNG. The development work would be ready for a final investment decision by mid-2007 and production could begin from late 2010.