Woodside picks up pace on Scarborough LNG sell-down

Angela Macdonald-SmithSenior resources writer

Jan 16, 2020 – 4.00pm

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Woodside Petroleum has picked up the pace again on the sale of stakes in its Scarborough and Pluto-2 LNG projects in Western Australia, with chief financial officer Sherry Duhe outlining plans for deals with two separate partners that would help fund the $US11.4 billion ($16.5 billion) investment.

Speaking after what analysts said was a slightly soft December quarter result, Ms Duhe said the "base case" was to reduce Woodside's stake in both the Scarborough gas field and the Pluto-2 LNG expansion project to about 50 per cent by around a final investment decision, expected by June.

Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables.