Woodside confirms GIP’s entry to Pluto LNG development

Offshore staff

PERTH, Australia – Woodside Energy has completed the sale of a 49% interest in the Pluto Train 2 LNG joint venture in northwest Australia to Global Infrastructure Partners (GIP).

Last November Woodside and its partners took a final investment decision on Pluto Train 2 and the offshore Scarborough gas development. This involves constructing a new LNG train at the existing onshore complex to handle increased supplies of offshore gas, with an estimated cost of $5.6 billion.

GIP will fund its 49% share of capex and provide a further sum of around $822 million. Woodside’s capex will be reduced accordingly. The first LNG cargo from Pluto Train 2 is scheduled for 2026.

01/18/2022