Hess deal secures $7.4 billion gas project

By Angela Macdonald-Smith
Updated December 23 2014 - 10:18am, first published 9:53am
Hess Corporation will pay the Woodside Petroleum-operated North West Shelf venture to process gas. Photo: AFR
Hess Corporation will pay the Woodside Petroleum-operated North West Shelf venture to process gas. Photo: AFR
Hess Corporation will pay the Woodside Petroleum-operated North West Shelf venture to process gas. Photo: AFR
Hess Corporation will pay the Woodside Petroleum-operated North West Shelf venture to process gas. Photo: AFR
Hess Corporation will pay the Woodside Petroleum-operated North West Shelf venture to process gas. Photo: AFR
Hess Corporation will pay the Woodside Petroleum-operated North West Shelf venture to process gas. Photo: AFR
Hess Corporation will pay the Woodside Petroleum-operated North West Shelf venture to process gas. Photo: AFR
Hess Corporation will pay the Woodside Petroleum-operated North West Shelf venture to process gas. Photo: AFR

US oil player Hess Corporation has finally reached an agreement to process its undeveloped gas resources off Western Australia through the North West Shelf venture, after several years of negotiations in a deal that would allow its $US6 billion ($7.6 billion) Equus gas project to go ahead.