Australian green group looks to derail Woodside’s $12-billion gas project -Breaking
[ad_1]
© Reuters. FILE PHOTO – A promotional poster featuring the logo of Woodside Petroleum (Australia’s largest independent oil and gas producer) is displayed at an investor briefing in Sydney on May 23, 2018. REUTERS/David Gray/File PhotoMELBOURNE, (Reuters) – Lawyers representing the Conservation Council of Western Australia wrote letters to Woodside, OTC:) Petroleum, and the minister of energy in an attempt to stop the Scarborough project.
These letters arrived just weeks before Woodside made a decision on whether to invest in Scarborough off the coast, Western Australia or expand its Pluto Liquefied Natural Gas (LNG), which together are expected to be $12 billion.
In letters addressed to Woodside chief executive Meg O’Neill and Environment minister Sussan ley, the Environmental Defenders Office stated that Scarborough’s proposed development should be reviewed according to provisions of the Environment Protection and Biodiversity ConservationAct that ban any injury to the Great Barrier Reef.
According to the green group, the emissions of the Scarborough gas will increase global warming and cause damage to the east coast reefs.
Brendan Dobbie, an EDO lawyer, wrote that CCWA was particularly concerned about the Project’s projected Scope 1 and 2 greenhouse gas emissions. This letter, dated November 17, to O’Neill, stated this.
Woodside declined to comment on the concerns raised in the letter but stated that it has the primary environmental approvals of the Federal government and Western Australian State Government to support Scarborough’s decision.
“Woodside rejects the assertion by activists that there is significant environmental approvals risk of proceeding to an FID (final investment decision) for Scarborough at this time,” Woodside said in an emailed statement.
According to the National Offshore Petroleum Safety and Environmental Management Authority, Woodside received an “in principle” approval for the entire project on Friday, but needs additional approvals before any other activity can be started, such as an environment plan and well operations management plan.
Credit Suisse (SIX.) Saul Kavonic, an analyst at CCWA said that the request posed “negligible danger” to the project. He also stated that Woodside had a track record of gaining regulatory and government support.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.
[ad_2]
