Woodside plans to accelerate Pluto LNG project
Woodside Petroleum is all set to accelerate its ambitious Pluto liquefied natural gas project in Western Australia. Don Voelte, CEO of the company, wants to expand the $12 billion Pluto project despite the threatening of strikes by its workers.
The workers at the Pluto liquefied natural gas project in Karrartha have gone on strike twice in the past three months in protest over the accommodation provided. The company expressed its desire to resolve the disputes with striking workers, while releasing its results today.
According to Woodside, the initial stage of its Pluto project was now 85% complete and the company is expecting to deliver its first liquefied natural gas by the end of the year. The company is very encouraged by the processing till now. The company said that the early exploration around the offshore Pluto fields had uncovered trillions of cubic feet of gas and the company expects the approval for two more processing trains at the project by the board. This expansion is estimated to cost the company of $8 billion.
The company is planning to increase its LNG production capacity from 3 million tons to 19 million tons by the year 2018. The company plans to reach this level by adding seven more production trains. Woodside is very confident about the global demand of LNG in the coming years.