13 Apr 2013

Australian firm shelves huge gas project

2:13 pm on 13 April 2013

A proposal for one of Australia's biggest resources projects has been scrapped.

The $A45 billion dollar onshore gas processing plant at James Price Point in the Kimberley region of Western Australia will not go ahead because costs are too high to make the operation viable.

Oil and gas company Woodside says that, after a technical and financial evaluation, the proposed LNG development does not meet its commercial requirements

It has recently lodged an expression of interest for developing a liquefied natural gas project in Canada, the ABC reports.

Environmentalists have hailed the announcement as a win after opposing the development from the start.