Browse LNG Precinct - Public Information Booklet - Department of ...

Public Information Booklet
Question:
What kinds of insurance are there in case of an accident?
There are three main phases for insurance which are consistent with project phases and
provide coverage during the exploration and appraisal, construction and the
production/operational phases of the project.
At each of the phases the proponents will need to take out insurance (or self insurance)
which will provide coverage for all key risks.
The insurance amounts are substantial and vary according to the relevant phase of the
project.
Financial and Company Information
Questions:
� What are the finances of a typical LNG business?
� What information on finances will the company give Traditional Owners and
when?
Due to commercial confidentiality it is not possible to release details of any funding
arrangements that companies may have or consider to enter into, to finance
developments within the proposed LNG Precinct.
However, financial information on proponents can be found in the respective companyís
annual report.
Question - Will Woodside set up new companies for this project?
The State has consulted with Woodside on this question and can summarise the
response as follows:
Woodside has not yet decided whether it will need to set up any new companies in
relation to the Browse LNG Development. If it does, they will be subsidiaries of/linked to
the parent company, Woodside Petroleum Limited.
Questions:
� Which entity is going to operate the LNG plant?
� Will there be any joint ventures? Which companies would be in such a joint
venture?
Permits associated with the Browse LNG Development include WA-R-2; WA-TR-5; WA-
28-R; WA-29R; WA-30-R; WA-31-R; WA-32-R.
Woodside is foundation proponent for the Precinct and is operator of the Browse LNG
Development which includes permits (WA-R-2; WA-TR-5; WA-28-R; WA-29R; WA-30-R;
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