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PERTH Jan 2 Japan Australia LNG (MIMI) Pty.
Ltd, a 50-50 joint venture between Mitsui & Co and
Mitsubishi Corp, has terminated a long term sales and
purchase agreement with Woodside Petroleum for
liquefied natural gas (LNG) from its Browse LNG project,
Woodside said Thursday.
The termination of the agreement follows Woodside's decision
earlier this year to scrap plans for an onshore Browse LNG plant
in favor of a floating LNG plant.
The sales agreement, which would have supplied MIMI with 1.5
million tonnes of LNG a year, was conditional on Woodside making
a final investment decision on the Browse project by the end of
Woodside recently said it plans to begin front end
engineering and design work on the Browse LNG project in
mid-2014 and make a final investment decision in the second half
MIMI's agreement to jointly market Browse LNG to the Asian
market is still in place.
(Reporting by Rebekah Kebede; Editing by Richard Pullin)