BHP Billiton said it will back plans for the development of the proposed Scarborough floating LNG development off Australia’s west coast with its partner, ExxonMobil.
Tim Cutt, BHP’s petroleum and potash division president told that the project has been progressed far enough that the company is confident in the technology and the commerciality, so the project will go forward.
Bloomberg reports that Exxon noted it still needs to find ways to make the venture more profitable and overcome challenges such as location and water depths despite the significant progress the company made so far.
Cutt was also reported saying that BHP will weigh the FLNG project against other investments.
LNG World News Staff, September 26, 2014; Image: ExxonMobil