Woodside Energy Group said on Tuesday (Aug 8) it had entered a deal with LNG Japan to sell a 10 per cent participating interest in its US$12 billion Scarborough liquefied natural gas project in Australia for US$500 million. As part of a broader strategic relationship, Woodside and LNG Japan, which is a 50-
Woodside Energy Group said on Tuesday it had entered a deal with LNG Japan to sell a 10 per cent participating interest in its US$12 billion Scarborough liquefied natural gas project in Australia for US$500 million.
As part of a broader strategic relationship, Woodside and LNG Japan, which is a 50-50 joint venture between Sumitomo Corporation and Sojitz Corporation, also entered an agreement for the sale and purchase of 12 LNG cargoes per year for 10 years, starting 2026, the company said. The proposed Scarborough plant is Woodside's biggest growth project, and since merging with BHP in 2022, the company holds 100 per cent ownership.
Following completion, Woodside will hold a 90 per cent interest in the Scarborough joint venture and remain as operator. Woodside also said that it had entered into deals with Sumitomo and Sojitz to collaborate on global opportunities in new energy, which could include ammonia, hydrogen, among others.
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