Woodside completes Pluto Train 2 sell down
Woodside has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 joint venture to Global Infrastructure Partners (GIP), it said on January 18. The deal was announced in November last year.
Pluto Train 2 is a key component of the Scarborough development and includes a new LNG train and domestic gas facilities to be constructed at the existing Pluto LNG onshore facility. The estimated capital expenditure for the development of Pluto Train 2 is $5.6bn.
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The joint venture arrangements require GIP to fund its 49% share of capital expenditure and an additional amount of construction capital expenditure of approximately $822mn. Woodside’s capital expenditure will be reduced accordingly.
The first LNG cargo from Pluto Train 2 is targeted for 2026. The final investment decision on the Pluto Train 2 and Scarborough development was announced in November.