Woodside Eyes Leviathan Stake, Favors FLNG

Peter Coleman, CEO of Australian LNG heavyweight Woodside, is still hopeful of saving his company’s $2bn-plus deal to take 25% of Israel’s Leviathan, the largest discovered gas field in the East Mediterranean. Mr Coleman, speaking at the Gastech conference in Korea on 24 March, said that Woodside’s plans remain on schedule.

Mr Coleman says he favors the use of floating LNG liquefaction unit (FLNG) to exploit the Leviathan gas, adding that a FLNG could be half the price of an onshore LNG plant.

Woodside signed a non-binding Memorandum of Understanding (MOU) with the Leviathan field partners to obtain a 25% stake in the field in December 2012. The deal which was expected to be ratified on 27 March fell through at the eleventh hour when Woodside failed to show-up to a scheduled signing ceremony. (CONTINUED - 437 WORDS)