Global energy company Woodside has agreed to sell a 10% stake in the Scarborough Joint Venture to LNG Japan for $500m.
Part of a wider strategic relationship, which involves three elements, the sale is expected to be completed in the first quarter of 2024.
Following completion, Woodside will hold a 90% interest in the Scarborough Joint Venture and remain as operator.
Scarborough gas will be processed at the Pluto LNG facility, where Woodside is currently contracting Pluto Train 2. Woodside is also the operator of the Pluto Train 2 joint venture and holds a 51% operating interest.
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