WA:Barnett unfazed by Woodside Browse delay

AAP General News (Australia)
12-19-2011
WA:Barnett unfazed by Woodside Browse delay

PERTH, Dec 19 AAP - West Australian Premier Colin Barnett says Woodside Petroleum's
move to delay an investment decision on its Kimberley gas hub is not a significant setback
for the $30 billion-plus project.

Woodside said on Monday it wants a final investment decision that is due by mid-2012
extended into the first half of 2013.

Mr Barnett, a strong backer of the proposed gas hub at James Price Point, told reporters
that at the end of the day it was a private sector project and it was Woodside and its
joint venture partners who would have to decide whether to go ahead.

"The fact that a final investment decision is probably delayed by about a year I don't
regard as particularly serious or a significant setback," he told reporters in Perth on
Monday.

Mr Barnett said the Woodside decision was not related to a recent court ruling that
found the WA government had incorrectly applied to compulsorily acquire the James Price
Point site, nor to protests against the gas hub.

"This is simply (a case of) how do you collectively fund a $30 billion to $40 billion
project in a remote location on an entirely greenfields site?" he said.

Mr Barnett said there may be some reorganisation within the joint venture and issues
about bringing the cost of the project down.

He noted there had been years of delays in decisions to proceed with projects on the
Northwest Shelf off Western Australia.

AAP ldj/was

KEYWORD: BROWSE BARNETT

� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.