Woodside to shelve $45b LNG project in Western Australia

THE ABC's AM program has been told that oil and gas producer Woodside Petroleum plans to abandon its $45 billion Browse LNG project in Western Australia.

The company is expected to make an announcement to the stock exchange this morning regarding the project at James Price Point, north of Broome.

Woodside refused to comment when contacted by AM.

The project is potentially bigger than the North West Shelf, Australia's largest oil and gas development.

The aim of the $45 billion venture is to process gas from the Browse Basin - off the north west coast of Western Australia.

Read more at ABC news online.