https://www.miningweekly.com
Financial|Gas|LNG|Oil And Gas|Oil-and-gas|Petroleum|PROJECT
Financial|Gas|LNG|Oil And Gas|Oil-and-gas|Petroleum|PROJECT
financial|gas|lng|oil-and-gas|oilandgas|petroleum|project

Woodside warns of Kitimat write-down

12th February 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Oil and gas major Woodside Petroleum has warned of a non-cash impairment of A$720-million in relation to its Kitimat assets, in Canada, for the 2019 financial year.

US major Chevron, which holds a 50% stake in the Kitimat project, in December of last year announced plans to exit the asset, which comprises upstream resource assets in the Liard and Horn River basins, the 471-km Pacific Trail Pipeline, and a natural gas liquefaction facility at Bish Cove near Kitimat.

The Kitimat liquefied natural gas (LNG) plant includes up to three LNG trains totalling 18-million tonnes a year, and is an all-electric plant powered by clean, renewable hydroelectricity from BC Hydro.

Woodside this week said that the asset remained a world-class project and added that the company would continue to actively evaluate future development opportunities, including the optimisation of gas supply into processing facilities.

However, Woodside noted that the impairment being recorded in the 2019 financial year reflected increased uncertainty, particularly in the timing of the development of the upstream Liard resource, following the sustained depressed gas market conditions in western Canada.

Edited by Creamer Media Reporter

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.119 0.154s - 91pq - 2rq
Subscribe Now