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Woodside's Wheatstone LNG costs to rise 8%

AAP logoAAP 30/10/2016

Woodside Petroleum expects its share of capital costs for the giant Wheatstone LNG project in Western Australia to increase by eight per cent following a cost blowout.

Global major Chevron, which is Wheatstone's operator, last week announced a $US5 billion ($A6.6 billion) cost overrun for the long-delayed project, taking its total costs to $US34 billion ($A45 billion).

Woodside, which owns a 13 per cent interest in Wheatstone through its 2015 deal with Apache Corp, said its cost increase would be lower as it had already updated its expected costs at the time of acquiring the stake.

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