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Woodside completes 49 per cent sale of Pluto Train 2 to Global Infrastructure Partners

Alexander ScottPilbara News
Woodside has sold a 49 per cent non-operating interest in a proposed LNG plant.
Camera IconWoodside has sold a 49 per cent non-operating interest in a proposed LNG plant. Credit: Jackson Flindell/The West Australian

Oil and gas giant Woodside has completed the sale of 49 per cent non-operating participating interest in the proposed Pluto Train 2 to a global infrastructure investor.

Woodside announced on Tuesday it had completed the sale to Global Infrastructure Partners for 49 per cent of the $US5.6b development and picking up $US835 million of additional construction costs of the Pluto LNG plant that would process gas from Scarborough, off northwest WA.

The Pluto Train 2 joint venture announced its final investment decision on November 22, along with the final investment decision for the Scarborough development.

The expansion of Pluto LNG will include the construction of Pluto Train 2, associated domestic gas processing facilities, supporting infrastructure and modifications to Pluto Train 1 to enable it to process Scarborough gas.

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Woodside chief executive Meg O’Neill said she looked forward to developing Pluto Train 2 with GIP.

“GIP brings established global capabilities to the Pluto Train 2 Joint Venture which will support delivery of a world-class project,” she said.

“The development of Scarborough gas through Pluto Train 2 is expected to deliver significant value to our shareholders, create thousands of jobs and deliver energy to domestic and international customers for decades to come.”

The Scarborough gas development is expected to create 3200 jobs during the project’s four-year construction and have 600 operational roles.

In June the Conservation Council of WA and the Australia Institute said research showed the project would release 1.6 billion tonnes of emissions — equivalent to 15 new coal power stations.

This number is disputed by Woodside, which claimed scope one and three emissions would total about half of the quoted figure.

The first LNG cargo from Pluto Train 2 is targeted for 2026.

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