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Woodside sells Scarborough interest

Woodside Energy

Woodside Energy has announced it will sell 15.1 per cent non-operating participating interest in the Scarborough joint venture (JV) to JERA.

Following the completion of the sale, Woodside Energy will hold a 74.9 per cent interest in the Scarborough joint venture and remain as the operator.

The agreement is part of a broadened strategic relationship with JERA, which also includes the sale of the LNG cargoes and collaboration on opportunities in new energy and lower carbon services.

The sale and purchase of six LNG cargoes is on a delivered ex-ship basis per year for 10 years commencing in 2026 from Woodside Energy’s global portfolio.

A non-binding agreement for new energy collaboration including potential opportunities in ammonia, hydrogen, carbon management technology and carbon capture and storage was also signed.

Woodside chief executive officer Meg O’Neill welcomed the new partnership with JERA.

“Woodside welcomes Japan’s largest utility, JERA, into the Scarborough joint venture. This builds on a long history of collaboration, starting in 29189 with LNG sales from the North West Shelf to JERA’s parent companies Tokyo Electric and Chubu Electric.

“JERA’s participation in the Scarborough joint venture, which will also include LNG Japan, is a further demonstration of the importance of the project to Japanese customers and confidence in long-term demand.”

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