From a Regular Contributor
Cancellation of both the Browse and Masela FLNG developments on the same day suggests that the issues about which Bill Campbell has warned may finally have won the day.
If so, this is a huge climbdown for Shell, with several billion dollars in probable write-offs.
It’s perhaps not surprising, given the plethora of warnings from technical sources that there were serious risks involved.
Could Prelude be next to be axed? Parking a multi-billion dollar vessel in cyclone alley for 20 years never seemed like the most appropriate use of the pension funds invested in Shell…