- Woodside establishes strategic relationship with LNG Japan
- The joint venture includes equity in the Scarborough Joint Venture, potential LNG offtake and collaboration in new energy
- Projects like these further strengthen WA’s trade and investment prospects with Japan and support jobs and the local economy
- Woodside Energy broke ground on the Pluto Train 2 project last year
Premier Roger Cook has welcomed Woodside’s newly established strategic partnership with LNG Japan.
The strategic relationship will include LNG Japan purchasing a 10 per cent interest in the Scarborough Joint Venture, a potential LNG offtake and collaboration opportunities in new energy.
The agreement will also facilitate the export of 0.9 million tonnes of LNG from the Scarborough Joint Venture per annum for 10 years commencing in 2026.
Woodside has also announced entering non-binding agreements to collaborate with Sumitomo Corporation and Sojitz Corporation on new energy opportunities including ammonia, hydrogen, carbon capture and storage (CCS) and carbon management technology.
Woodside will retain a 90 per cent stake in the Scarborough Joint Venture, and remain as operator.
The announcement will support the development of carbon capture, utilisation and storage in Western Australia, which is highlighted as a key economic growth opportunity in Future State: Accelerating Diversify WA.
The completion of the transaction is subject to State and Commonwealth Government approvals.
As stated by Premier Roger Cook:
“Congratulations to Woodside and Japan LNG for entering a new strategic partnership, which will not only see increased LNG exports from WA, but also establish further cooperation on new energy opportunities.
“This strategic partnership will further support Western Australia’s energy transition, by increasing investment in technologies such as carbon capture and storage, and is part of economic diversification.
“This announcement reinforces the increasing international interest in Western Australia’s valuable resources and their confidence to invest in WA which in turn supports jobs and the strengthens our economy.”
