ConocoPhillips' Australian LNG plans face hurdles

08/2/2011 | Wall Street Journal, The

A strong Australian dollar and increasing cost pressures may affect the near-term prospects for Australia's flourishing liquefied natural gas industry, according to ConocoPhillips. But the company still expects to approve the next phase of its $20 billion Australia Pacific LNG joint venture by year's end, said Todd Creeger, president of Conoco's Australian unit. The company is also seeking LNG-development opportunities for its assets in the Browse Basin.

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