The Browse Joint Venture (“Browse JV”), in which Mitsubishi Corporation ("MC", Head Office: Chiyoda-ku, Tokyo, President and CEO: Ken Kobayashi) and Mitsui & Co., Ltd. ("Mitsui", Head Office: Chiyoda-ku, Tokyo, President and CEO: Tatsuo Yasunaga) participate through Japan Australia LNG (MIMI Browse) Pty Ltd. ("MIMI Browse",  equally owned by MC and Mitsui), has decided to commence front-end engineering and design (FEED) for the Browse LNG Project in Australia, having completed its preliminary front-end engineering and design (Pre-FEED). The target for a final investment decision is set for the second half of 2016. Browse JV has also agreed to integrate the East Browse and West Browse joint ventures, and as a result, the working interests held by MIMI Browse in the integrated venture will be 14.40%.

 

Browse JV aims to commercialize natural gas and condensate resources from the Browse gas and condensate fields located off the coast of Western Australia. Browse JV intends to develop the Browse LNG Project by utilizing Shell’s floating LNG technology and Woodside’s offshore development expertise.

 

MC and Mitsui, through MIMI Browse, will continue to carry out the necessary studies in an effort to realize the earliest commercialization of the Browse LNG Project.

 

 

Project Summary

Contingent Resources (2C)	Gas: 15.4 trillion cubic feet Condensate: 453 million barrels
LNG Production	About 12 MTPA (about 4 MTPA x 3 FLNG units） ※ About 1.7 MTPA of LNG will be sold by MIMI Browse (MTPA: million tons per annum)

 

Browse JV Shareholder Breakdown

MIMI Browse	14.40%
Woodside Browse Pty Ltd	30.60%
Shell Development (Australia) Proprietary Limited	27.00%
BP Developments Australia Pty. Ltd.	17.33%
PetroChina International Investment (Australia) Pty Ltd	10.67%

 

 

 

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