The heads of agreement is subject to a number of conditions, and will require the conversion of the heads of agreement to an indigenous land use agreement to be negotiated and entered into later in 2009. The indigenous land use agreement will enable the state to secure land for an LNG precinct at James Price Point.
Woodside Petroleum expects to execute the heads of agreement in the coming days, and will do so on the basis that the Kimberley LNG precinct is its preferred site for the processing of LNG from the Browse basin gas fields.
The other Browse joint venturers are not parties to the heads of agreement. The Browse joint venture is considering locations for processing Browse gas at the Kimberley LNG precinct or at Woodside Petroleum operated facilities in Karratha and has not yet made a decision on the location.
