Japanese firm INPEX is the lead operator on this natural gas project, located off the coast of northwest Australia.
This illustration depicts the action offshore. The natural gas and liquids are brought to the surface where they are separated at the floating facility seen in the foreground. The liquids, used in petrochemicals and gasoline, are then sent to the ship in the background for further processing and then to market.
Meanwhile, the natural gas is sent from the platform via a 550-mile subsea pipeline to an onshore facility where it's turned into liquid natural gas.
Source: INPEX, Wood Mackenzie Cost estimates for oil and gas projects are from the energy consultants Wood Mackenzie. They include possible future costs and other data which may not correspond to company esitmates.
By Steve Hargreaves @hargreavesCNN - Last updated August 27 2012 02:47 PM ET