Woodside completes $2bn LNG sale deal


Woodside Petroleum has struck a $2bn deal to sell part of its stake in the Browse gas project to Japan’s Mitsubishi Corporation and Mitsui & Co (MIMI).

The sale involves MIMI taking 16% interest in the East Browse joint venture and 8% interest in the West Browse joint venture. This would give MIMI an estimated 14.7% interest in the Browse development on an assumed unitised basis.

Woodside would remain as operator of the development, but it is assumed its interest would reduce from 46% to 31.3%.

Woodside has also accepted an offer from MIMI for a long-term sales and purchase agreement for around 1.5m tns of LNG a year from the Browse development subject to completion of the equity offer.

... to continue reading you must be subscribed

Subscribe Today

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...