Global energy company Woodside has agreed to sell a 15.1% non-operating participating interest in its Scarborough joint venture to JERA for an estimated $1.4m.
The agreement’s cost comprises roughly $740m for the Scarborough partnership and compensates Woodside for JERA’s portion of the expenses accrued since the deal’s effective date of 1st January 2022.
Completion of the sale is expected in the second half of 2024.
In addition to the acquisition deal, Woodside and JERA have also signed a non-binding heads of agreement for the sale and purchase of six LNG cargoes on a delivered ex-ship basis per year for 10 years, beginning in 2026.
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