Australia approved on Wednesday Woodside Energy's request to extend the life of its North West Shelf gas plant until 2070, after a six-year review process dogged by delays, appeals and backlash from
Australia approved on Wednesday Woodside Energy's request to extend the life of its North West Shelf gas plant until 2070, after a six-year review process dogged by delays, appeals and backlash from green groups.
The North West Shelf facility, located on the Burrup Peninsula in Western Australia, is the country's oldest and largest liquefied natural gas plant and a key supplier to Asian markets.
Environment Minister Murray Watt said in a statement the decision to approve the extension of the project would be subject to strict conditions "particularly relating to the impact of air emissions levels from the operation."
Woodside shares were trading higher through the day but jumped after the announcement to be up 4% in the afternoon.
The project's existing approval was set to expire in 2030.
Woodside's extension application, lodged in 2018, had been caught up in state and federal assessment processes due to competing concerns over energy security and its environmental impact.
The extension lays the groundwork for Woodside, Australia's top gas producer, to bring new gas fields online to feed the LNG plant and is expected to generate up to 4.3 billion metric tons of carbon emissions over its lifetime.
The Western Australia state government
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