Monday, January 30, 2012

Woodside browses on $1.6bn deal | The Australian

Woodside browses on $1.6bn deal | The Australian: WOODSIDE Petroleum could reap up to $1.6 billion from the selldown of its $40bn Browse liquefied natural gas project, with interest in Australian gas assets expected to remain strong despite rising labour costs and offshore competition.

After Woodside confirmed on Friday a report in The Australian that it was looking to reduce its 46 per cent stake in Browse, analysts tipped the Perth company would offload up to 23 per cent to a party that "facilitates and adds value" to the development.

Premier of Western Australia Colin Barnett said Chinese interests could buy up to 25 per cent.

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