Woodside Petroleum Limited
(ASX:WPL) will see Chevron exit its liquefied natural gas (LNG) venture at James Price Point on the Kimberley Coast.
Media reports suggest, Chevron will swap its 17.5 per cent Browse LNG stake for Royal Dutch Shell’s share in two licences it holds in the Carnarvon Basin.
Shell says it remains committed to working with Woodside. As operator of the proposed LNG development, Woodside is currently progressing plans to build and operate a 12 million tonne per annum LNG processing facility at the site.
In the 2011 financial year Woodside Petroleum reported a net profit of $1.49 billion.
