Woodside-Led Browse LNG Sees BP Sell 5% Stake, Cuts to 39.33%
WDS•BP sold 5% of its stake in the Woodside-led Browse LNG project to GS Energy, cutting its holding to 39.33%. The A$48.7 billion project, designed to supply gas to the North West Shelf, faces regulatory delays that could affect Woodside’s production timelines.
1. Stake Sale Details
BP agreed to sell a 5% interest in the Woodside-led Browse LNG project to GS Energy, reducing its stake to 39.33%. The transaction value was not disclosed and aligns with BP’s program to divest $20 billion of assets by 2027.
2. Browse Project Overview
Estimated at A$48.7 billion, the Browse LNG development aims to supply gas to Australia’s North West Shelf export hub. The project has encountered regulatory approval delays, pushing back planned first gas and affecting overall timelines.
3. Implications for Woodside Energy
As operator, Woodside must recalibrate partner contributions and project financing in light of GS Energy’s entry. While the new partner may bolster funding, shifting equity could influence governance, capital allocation and Woodside’s near-term cash flows.
