Woodside Energy Ltd. said its Browse LNG project could contribute over $100 billion [1] to the Australian economy.

The project represents a significant bet on the long-term demand for liquefied natural gas. If realized, the development would strengthen national energy security and generate substantial government revenue through taxes and economic activity.

The development is located offshore off the north-west coast of Western Australia [3]. Woodside's internal modelling, supported by forecasts from Deloitte, suggests the project will deliver major energy-security benefits and a massive economic boost [1, 3].

However, the cost of the project has risen significantly over the last several years. In 2019, the estimated cost was A$27.3 billion [3]. Recent estimates show the cost has jumped to A$48.7 billion [3], approximately US$35 billion [3], following the addition of a carbon capture and storage plan [3].

Financial projections for the project vary across different reports. While Woodside modelling suggests a total economic contribution exceeding $100 billion [1], other data from Deloitte projects A$56 billion [3] in tax revenue and related benefits.

Woodside said the project remains a priority for the company's growth strategy in the region [1].

“Browse LNG project could add over $100 billion to the Australian economy”

The discrepancy between Woodside's $100 billion economic claim and Deloitte's A$56 billion tax projection highlights the gap between gross economic activity and direct government gain. Furthermore, the nearly 80% increase in projected costs since 2019 reflects the growing financial burden of integrating carbon capture technology to meet environmental standards while maintaining fossil fuel production.