Exxon Mobil and BHP Billiton to build largest LNG plant
At around 500 meters (0.3 miles) long, the floating liquefied natural gas plant would be nearly as long as five football fields and would be the largest floating facility in the world. The plant would increased Australia's LNG production by nearly 30 percent. With around seven million tonnes per annum (mtpa), it would be able to fuel the LNG needs of Japan, the world's largest importer of the gas, for about for a month.
Exxon, which detailed the plan in a filing with Australia's environment department, did not reveal a plant cost. Australia has $190 billion worth of LNG projects under way but seven LNG plants under constructio are due to come online in 2014 or later and four have already announced cost increase of 15 to 40 percent. ■