The decision follows completion of front-end engineering and design work.
Woodside CEO Peter Coleman said his company remained committed to “the earliest commercial development of the world-class Browse resources and to FLNG as the preferred solution, but the economic environment is not supportive of a major LNG investment at this time.
“Accordingly, we will use the additional time to pursue further capital efficiencies for Browse.”
The partners will prepare a new work program and set a budget for progressing future development activities.
The Browse retention leases, renewed last year, currently run through mid-2020.
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