If you own Woodside Petroleum Ltd (ASX: WPL) shares you've likely been following news of its Western Australian Pluto LNG project.
The S&P/ASX 200 Index (ASX: XJO) energy giant's $16.5 billion project is expected to provide 30 years of LNG exports. That's upon its scheduled completion in 2026.
But that completion date, and indeed the future of the entire project, has remained uncertain as it's faced legal challenges brought by the Conservation Council of Western Australia (CCWA).
Now the Supreme Court of Western Australia has made its ruling.
What did the court rule?
Woodside reported that in its decision, reached yesterday, the Supreme Court of Western Australia "dismissed the two proceedings brought against the Chairman of the Environmental Protection Authority challenging the Pluto LNG and Karratha Gas Plant environmental approvals made in 2019".
The ASX 200 energy company said it was pleased with the decision and will continue to progress the projects.
CCWA was represented by the Environmental Defenders Office. As the Motley Fool reported at the time, the Environmental Defenders Office explained the basis of the case as such:
Our client will argue that a key approval for expansion of Woodside's Pluto LNG facility – a major component of the Scarborough gas proposal – was unlawful, as it failed to properly consider and control the environmental harm generated by the development's GHG emissions…
Governments and regulators should be doing everything in their power to properly assess and control any additional emissions to mitigate the risk of climate related extreme weather events to the Australian people.
In November, CCWA commenced separate proceedings in the Supreme Court challenging WA's Pluto Train 2 project works approval. That hearing date isn't set yet.
How have Woodside shares been tracking?
The Woodside share price closed up 0.5% yesterday, ending the day at $28.68 per share.
So far in 2022, Woodside shares have surged ahead, up around 30%. That compares to a year-to-date loss of 6.5% posted by the ASX 200.
