Australia’s Woodside kicks off stake sale for second Pluto LNG train

Woodside said it has launched the sell-down process for the second train at its Pluto LNG export facility on Western Australia’s Burrup Peninsula.

Pluto Train 2 would process gas from the Scarborough gas resource and have a capacity of about 5 million tonnes per annum.

“We have launched the formal sell-down process for up to 49% of our equity in Pluto Train 2,” Woodside acting CEO Meg O’Neill said in the company’s second-quarter report.

“In parallel, we have commenced a process to test the market for value-accretive opportunities to reduce our equity in the Scarborough resource,” O’Neill said.

Pluto LNG currently processes gas from the offshore Pluto and Xena gas fields in Western Australia. Gas arrives through a 180 km trunkline to a single onshore 4.9 mtpa LNG processing train.

Woodside is the operator of Pluto LNG via Woodside Burrup (90%), while the other partners include Kansai Electric Power Australia (5%) and Tokyo Gas Pluto (5%).

The partners plan to develop the Scarborough gas resource through new offshore facilities connected by an approximately 430 km pipeline to a proposed expansion of the existing Pluto LNG onshore facility.

Furthermore, the expansion includes modifications to the existing Train 1 and construction of the second gas processing train and additional domestic gas infrastructure.

Scarborough gas would primarily go to Train 2 for liquefaction and contains “negligible reservoir carbon dioxide,” Woodside said.

Woodside confirmed it still plans to take a final investment decision for Scarborough and Pluto Train 2 in the second half of 2021.

The projects could cost up to $11 billion.

“We are reviewing project cost estimates following extensive engagement with our contractors over recent months in the lead up to the investment decision,” O’Neill said.

- Advertisements -

Most Popular

Charif Souki steps down as chairman of Tellurian

US LNG firm Tellurian, the developer of the Driftwood LNG export project in Louisiana, said on Friday that its...

QatarEnergy, ExxonMobil expect first LNG from Golden Pass plant in H1 2025

Energy giants QatarEnergy and ExxonMobil are expecting to start LNG production at their Golden Pass LNG export terminal on...

Dynagas FSRU ready to start Stade job

The 174,000-cbm FSRU Transgas Force, owned by Dynagas, has left Germany's Bremerhaven and will now work as an LNG...

More News Like This

Woodside, Santos confirm merger talks

Australian LNG players Woodside and Santos confirmed that the two firms are in discussions regarding a potential merger. "In response...

Mexico Pacific pens 20-year LNG supply deal with Woodside

Mexico Pacific, the developer of the planned $14 billion Saguaro Energia LNG export project, has signed a long-term deal...

Woodside gets OK from East Timor to start work on Sunrise concept study

Australian LNG player Woodside and its partners Timor GAP and Japan’s Osaka Gas have received approval from East Timor...

Shell, BP wrap up Browse stake sale

A unit of LNG giant Shell has completed its previously announced deal with BP to sell a 27 percent...