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Woodside has completed the sale of a 10% non-operating participating interest in the Scarborough Joint Venture to LJ Scarborough Pty Ltd (LNG Japan).
The completion follows Woodside's announcement on 8 August 2023 that it had established a strategic relationship with LNG Japan that involved three elements: equity in the Scarborough Joint Venture; potential LNG offtake; and collaboration on potential opportunities in new energy. The sale proceeds received by Woodside of US$910 million for equity in the Scarborough Joint Venture comprises the purchase price, reimbursed expenditure and escalation.
Woodside holds a 90% interest in the Scarborough Joint Venture and will remain as operator. Following completion of the transaction with JERA announced on 23 February 2024, Woodside's interest will be 74.9% in the Scarborough Joint Venture.3
Posted In: WDS
