Woodside to Sell $1.4 Billion Stake in LNG Project to Japan Power Giant

Australia’s Woodside has struck a deal to sell a 15.1% stake in the Scarborough LNG project to JERA—the biggest power utility in Japan. The deal is valued at $1.4 billion and will secure long-term liquefied gas supply to JERA’s clients. Per Woodside, the sale would include a payment of $740 million as a price tag plus reimbursement for the money the Australian company had already spent on the development of the offshore project since 2022. This is the second stake in Scarborough that Woodside sells to a Japanese utility in…