Woodside reports $720 million non-cash impairment

Published by David Rowlands, Editor
LNG Industry, Tuesday, 11 February 2020 14:30

Woodside has announced that its financial statements for the full-year ended 31 December 2019 will recognise a non-cash impairment of $720 million (after tax) in relation to the Kitimat assets in Western Canada.

According to the statement, the full 2019 financial statements will be released on 13 February 2020.

Kitimat remains a world-class project, and Woodside will continue to actively evaluate opportunities for future development, including optimisation of gas supply into processing facilities. However, the company claims that the impairment reflects increased uncertainty, particularly in the timing of the development of the upstream Liard resource, following sustained depressed gas market conditions in Western Canada.

Calculation of the 2019 final dividend, which will also be announced on 13 February, will reportedly exclude the impact of this impairment on net profit after tax.

Read the article online at: https://www.lngindustry.com/liquefaction/11022020/woodside-reports-720-million-non-cash-impairment/

EIA: Natural gas production and consumption has increased in Egypt and Israel for 20 years

Friday 02 December 2022 12:00

Natural gas has played an increasingly important role in both Egypt’s and Israel’s economies over the past 20 years, and both consumption and production have grown substantially in those countries, The U.S. Energy Information Administration has reported.

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