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Australia's Proposed Browse to North West Shelf Project Holds Over 14 Trillion Cubic Feet of Gas Resources

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The proposed Browse to North West Shelf Project in Australia has an estimated contingent resource of 14.4 trillion cubic feet of dry gas and about 411 million barrels of condensate, Australian energy company Woodside Energy (WDS) said on Monday.

The project will require a capital investment of about AU$48.7 billion ($38.3 billion) over its lifetime, the company said in a statement, citing an economic impact assessment by Deloitte Access Economics.

Woodside Energy, as an operator for the Browse Joint Venture, has proposed to develop the Calliance, Brecknock and Torosa natural gas fields in the offshore Browse Basin, about 425 kilometers north of Broome, Western Australia.

"The project has a forecast production capacity of 11.4 million tonnes per annum (LNG, LPG and domestic gas) and a peak condensate production rate of 50,000 barrels per day," the statement said.

The proposal includes the construction of two floating production storage and offloading facilities and an approximately 900 km pipeline to the Browse to North West Shelf Project's existing infrastructure, according to a statement by Woodside Energy. It also includes a carbon capture and storage system.

The project can help ease the pressure on Western Australia's energy system, with its contingent resource equal to almost 38 years of the region's forecast domestic gas consumption in 2026 if used only for domestic gas supply, the statement said.

The proposal is currently in the concept definition phase.

Woodside Energy, Woodside Energy (North West Shelf), BP's (BP) BP Developments, Chevron (CVX) unit Chevron Australia, Japan Australia LNG (MIMI), and Shell's (SHEL) Shell Australia hold a 16.67% interest in the project each.

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