Woodside Energy Group (ASX:WDS) has entered a strategic partnership with LNG Japan, involving a 10% non-operating participating interest in the Scarborough Joint Venture, potential LNG off-take, and joint exploration of emerging energy avenues.
The purchase price is US$500 million, subject to adjustments, and expected to become approximately US$880 million when taking into account reimbursed expenditure, and escalation.
The completion of the deal, expected in Q1 2024, is subject to certain approvals.
Woodside Energy and LNG Japan have also entered a non-binding agreement for the sale, and purchase of approximately 0.9 million tonnes of LNG cargoes per annum for a decade starting in 2026.