Analysts say Woodside Petroleum Limited’s (ASX:WPL) $30 billion Browse liquefied natural gas plant’s come “under a cloud”, and piping the gas 1000 kilometres to the North West Shelf plant for processing could be a better plan.
The Australian newspaper reports Credit Suisse analysts claim factors hurting the prospects of the plant include competition for scarce labour in the region, development cost pressure, and no locked-in gas supply.
Woodside chief executive Peter Coleman says the group is set to make a final decision on the project sometime next year.
Woodside Petroleum Limited (ASX:WPL) reported a profit of $772 million in the first half of its 2011 financial year.
