May 11, 2026 [Reuters]- Woodside Energy’s long-delayed Browse liquefied natural gas project is now expected to cost A$48.7 billion ($35.2 billion), according to a new report ​commissioned by the company.

The proposal to develop Australia’s largest untapped ‌gas resource was submitted to regulators in 2018 and was last estimated to cost A$27.3 billion in 2019, but a major carbon capture and storage (CCS) component ​was added to the project in 2023.

The Browse project’s progress has ​been delayed by environmental approvals and negotiations over a processing ⁠agreement.

An economic impact assessment by Deloitte commissioned by Woodside and released ​on Monday said the project’s total capital expenditure would now be A$48.7 ​billion. The figure used different assumptions and a different base year compared to the 2019 estimate.

“It would be one of the largest projects in Australian history based ​on capital expenditure,” the report said, adding it would also create 3,068 ​full-time jobs and generate A$56.2 billion in tax payments.

Woodside has proposed to use the ‌Browse ⁠fields off northwest Australia to supply the ageing North West Shelf LNG facility, which received a 40-year life extension to 2070 last year.

Its CCS component also aims to inject up to 4 million metric tons a year ​of carbon dioxide emissions ​back into ⁠the Browse reservoirs and to reduce direct emissions by 47%.

Environmental groups have opposed the project, arguing it would ​threaten the nearby Scott Reef, home to endangered pygmy ​blue whales ⁠and green turtles.

The environment department is due to give final advice to the government on whether to approve or reject the project as soon ⁠as next ​month, according to public broadcaster ABC.

Woodside’s partners ​in Browse are BP, Japan’s Mitsui & Co and Mitsubishi, and the international arm of PetroChina.