The Origin Energy Limited
(ASX:ORG) and AWE Limited
(ASX:AWE) BassGass project has revealed another cost blowout and delay.
AWE says the change in project plan now increases the estimates phase 1 project budget to around $550 million to $580 million.
The announcement comes after Origin warned in April costs had risen to $460 million from $360 million.
Origin owns and operates 42.5 per cent of BassGas with AWE controlling 46.25 per cent and Toyota Tsusho 11.25 per cent.
Origin reported a net profit of $823 million in first half of its 2012 financial year.
