Loading...
Loading...
woodside-completes-2bn-lng-sale-deal
woodside-completes-2bn-lng-sale-deal

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

Paywall Asset Header Graphic

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...
-->