Woodside Completes Sale Of 10% Non-operating Participating Interest In Scarborough JV

(RTTNews) - Woodside said it has completed the sale of a 10% non-operating participating interest in the Scarborough Joint Venture to LJ Scarborough Pty Ltd or LNG Japan.

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.

In addition to the sale of a 10% non-operating participating interest in the Scarborough Joint Venture to LNG Japan, Woodside announced in February 2024 it had entered into a sale and purchase agreement with JERA for the sale of a 15.1% non-operating participating interest in the Scarborough Joint Venture.