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Woodside board approves funding

WOODSIDE Petroleum Ltd last week announced its board’s approval of up to $1.4 billion in funding commitments, to be used to develop the Pluto liquefied natural gas project, having also reached a “satisfactory negotiation” with the state government over its domestic gas reservation policy. The approval allows funding for site preparations on the Burrup Peninsula and the ordering of long lead items ahead of a final decision on whether to invest in Pluto midway through next year.

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