SINGAPORE: Energy minnow MEO Australia will begin a drilling campaign in the Timor Sea next week that could pave the way for the world's first offshore liquefied natural gas (LNG) plant, a company official said yesterday.
MEO, a gas explorer focused on developing reserves with high carbon dioxide content, hopes to prove enough gas to begin preliminary design work early next year and make a final decision on the estimated US$3bil project by end-2008, managing director Chris Hart told Reuters.