Woodside wraps up stake sale in second Pluto LNG train to GIP

Australian LNG player Woodside said it has completed the previously announced sale of a 49 percent non-operating stake in the second Pluto LNG train to US-based Global Infrastructure Partners.

Woodside and GIP signed the deal in November last year.

After that, Woodside took a final investment decision on the Scarborough and Pluto LNG Train 2 developments worth about $12 billion.

The approval also includes new domestic gas facilities and modifications to the first Pluto 4.9 mtpa train on Western Australia’s Burrup Peninsula.

Pluto Train 2 will process gas from the Scarborough offshore gas resource and have a capacity of about 5 mtpa.

Woodside expects the capital expenditure for the development of Pluto Train 2 to reach about $5.6 billion.

The joint venture arrangements for the second train require GIP to fund its 49 percent share of capital expenditure and an additional amount of construction capital expenditure of about $822 million, Woodside said on Tuesday.

It expects the first LNG cargo from the new Pluto train to leave the plant in 2026.

The Pluto JV comprises Woodside Burrup with an operating 90 percent stake. Kansai Electric Power Australia and Tokyo Gas Pluto have each a 5 percent share.

As per the Pluto Train 2 JV, Woodside Burrup Train 2 holds a 51 percent operating stake and GIP owns the rest.

Most Popular

Venture Global gets FERC OK to boost Calcasieu Pass LNG capacity

US LNG exporter Venture Global LNG has received approval from the US FERC to increase the peak liquefaction capacity of its Calcasieu Pass LNG terminal in Louisiana.

Deutsche ReGas, German government reach deal on FSRU charter termination

LNG terminal operator Deutsche ReGas and Germany's Ministry for Economic Affairs and Energy have reached a mutual agreement on resolving the sub-charter agreement for the 174,000-cubic-meter FSRU Energos Power.

GasLog, Jiangnan ink LoI for LNG carrier duo

China’s Jiangnan Shipyard has signed a letter of intent with Greek LNG shipping firm GasLog to build two liquefied natural gas (LNG) carriers, according to shipbuilding sources.

More News Like This

Woodside’s Louisiana LNG gets FERC extension

Woodside has secured an additional eight-month extension from the US FERC to complete and put into service its Louisiana LNG export facility.

Woodside gets OK for NWS extension project

Australian LNG player Woodside and its partners in the North West Shelf joint venture have secured environmental approval from the Australian government for the North West Shelf project extension.

Woodside to raise $3.5 billion via US bonds

Australian LNG player Woodside has priced $3.5 billion of senior unsecured bonds in the US market.

Woodside’s Louisiana LNG seeks FERC extension

Woodside is seeking an additional eight-month extension from the US FERC to complete and put into service its Louisiana LNG export facility.