Woodside Energy Group has concluded the sale of a 10% non-operating participating stake in the Scarborough joint venture (JV) to LJ Scarborough, owned by LNG Japan (Sumitomo and Sojitz) and Japan Organization for Metals and Energy Security (JOGMEC).
The acquisition of the stake by LJ Scarborough was previously announced in August 2023. The Scarborough JV is part of the Scarborough Energy Project, which, besides operating the homonymous gas field in the Carnarvon Basin, Australia, also covers its associated offshore and subsea infrastructure.
Woodside will receive US$910m for the transfer, an amount formed by the purchase price, reimbursed expenditure and escalation.
First LNG cargo from Scarborough is expected in 2026.
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