Woodside loses major gas supply deal
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Woodside Petroleum has let lapse a supply agreement for its Browse project worth up to $45 billion.
Woodside said the agreement with CPC Corporation of Taiwan, signed in November 2007, was allowed to expire on June 21 with the agreement of both companies.
The deal was for the sale of two to three million tonnes of liquefied natural gas (LNG) from the Western Australia-based Browse project for a period of 15 to 20 years.
Earlier in June, Woodside halted drilling at Browse, in WA's Kimberley region, until a court dispute about planning approvals was resolved.
Richard Hunter, a traditional owner and senior member of the indigenous Goolarabooloo people, has alleged an approval granted to Woodside in February for engineering and environmental studies was invalid because the Kimberley Joint Development Assessment Panel did not wait to receive an official report from the Shire of Broome.
Woodside says it is continuing with work that was unaffected by the legal action, including near-shore geotechnical activities, onshore environmental studies and offshore seismic surveys.