JERA completes share purchase in Scarborough gas venture

Woodside Energy has transferred a 15.1% interest in the Scarborough joint venture (JV) offshore/onshore Western Australia to Japanese power utility JERA for $1.4 billion.

Woodside CEO Meg O’Neill said work on the Scarborough energy project was near the 75% completion point and on track to deliver the first LNG cargo in 2026.

The project comprises the Scarborough JV, the Pluto LNG Train 2 JV, and modifications to Pluto LNG Train 1 to process Scarborough’s gas.

The Scarborough JV encompasses the Scarborough gas-condensate field, which is 375 km offshore Karratha, and associated offshore and subsea infrastructure.

The transfer of interests agreement was initially announced in February of this year.