Woodside concludes Pluto 2 deal

Australian firm finalises sale of stake in LNG project to Global Infrastructure Partners

ASX-listed Woodside Petroleum has completed the sale of a stake in the second train of the Pluto LNG project to equity fund Global Infrastructure Partners (GIP). GIP has acquired a 49pc non-operating share in the 5mn t/yr liquefaction development, which remains on track to start production in 2026. Woodside will operate Pluto 2—as it does with the existing first train—and capex is still estimated at $5.6bn. GIP will cover 49pc of the capex and provide another c.$835mn for construction costs, reducing Woodside’s funding requirements. Pluto 2 and the associated Scarborough gas project reached FID in November last year. The two schemes are closely interlinked, as Scarborough’s output will fee

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