Tuesday, May 1, 2012

Woodside seals $2bn Browse LNG deal

Woodside seals $2bn Browse LNG deal: Woodside Petroleum has sealed a $2 billion deal to sell part of its stake in the proposed Browse LNG Development to Japan Australia LNG.

Woodside on Tuesday also said it had accepted an offer for a long-term sales and purchase agreement for about 1.5 million tonnes of LNG a year from the Browse development subject to completion of the equity offer.

Woodside said that while the price agreed by the parties was confidential, it was in line with traditional Asian pricing for conventional LNG projects.

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