North West Shelf Venture Celebrates 25 Years of Operations
Australia's greatest resource project is celebrating a major birthday, with this month marking 25 years since the Woodside-operated North West Shelf Venture began processing natural gas.
This year also marks the 20th anniversary of liquefied natural gas exports from the North West Shelf Venture, with more than 2700 cargoes delivered to the Asia Pacific region and other parts of the world since 1989. The Venture is now one of the world's largest producers of LNG.
Woodside's Chief Executive Officer and Managing Director, and Chairman of the North West Shelf Venture Principals Leadership Team, Don Voelte said the North West Shelf was an ambitious and visionary development which had helped pave the way for the growth of Australia's upstream energy industry.
"The North West Shelf was a massive undertaking which required bipartisan government support and cooperation between the Venture participants and industry. When it was developed in the 1980s it was the largest construction project Australia had ever seen, and it put Australia on the map as a major participant in the international energy market," Voelte said.
"Today, this A$27 billion project represents Australia's largest resource development and accounts for more than 40 percent of Australia's oil and gas, 65 percent of gas production in Western Australia and one percent of the nation's gross domestic product."
Reflecting on the Venture's history, Voelte paid tribute to the people who have been involved with this pioneering development over many decades.
"In commemorating this significant milestone, we also celebrate the efforts of all those people -- including past and present employees -- who have been involved with the development, and ongoing safe and reliable operation, of the North West Shelf Venture. They should all feel immensely proud of their achievements," he said.
Woodside's Executive Vice President, North West Shelf and Chief Executive Officer of the North West Shelf Venture, Eve Howell said that the North West Shelf Venture has continued to invest in developing its infrastructure for the future, and would contribute to Australia's economic prosperity for years to come.
"Since 1984 the Venture has continued to invest in expanding its facilities, as evidenced by the recent successful completion of the A$2.6 billion Phase V Expansion and A$1.6 billion Angel Project in 2008, and the A$5 billion North Rankin Redevelopment Project which is currently underway," Howell said.
"With ongoing development, the Venture continues to be a major contributor to Australia, injecting A$3 billion a year in taxes and royalties, investing almost A$800 million a year in operating costs, providing opportunities for Australian companies, creating employment and investing in infrastructure to support the Shire of Roebourne community."
The six equal participants in the North West Shelf gas venture are BHP Billiton Petroleum (North West Shelf) Pty Ltd, BP Developments Australia Pty Ltd, Chevron Australia Pty Ltd, Japan Australia LNG (MIMI) Pty Ltd, Shell Development (Australia) Pty Ltd and Operator Woodside Energy Ltd. The China National Offshore Oil Corporation is also part of the North West Shelf Venture but does not have an interest in its infrastructure.
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