Australian shares to open 0.9pc lower; Brent nears $US100 a barrel; $A slides; gold drops 1pc to $US1694.82 an ounce. Follow updates here.
Woodside Energy has signalled it will consider using its pre-emption rights against a shock move by Japan’s Tokyo Gas to transfer its interest in the Pluto LNG project in Western Australia – part of a broader $US2.15 billion deal announced late Friday – to US private equity firm EIG.
Tokyo Gas’ 5 per cent stake in Pluto is one of four minority interests held by the giant Japanese LNG buyer in Australian LNG projects that are set to pass to EIG’s new MidOcean Energy subsidiary in what is the first significant sign of a Japanese firm exiting gas ventures driven partly by the need to cut emissions.
Woodside’s Pluto LNG project in Western Australia is one of the four Australian LNG ventures that Tokyo Gas is selling out of.Also included in the transaction are Tokyo Gas’ small stakes in Chevron’s huge Gorgon LNG venture, Inpex Corporation’s Ichthys venture in Darwin and Shell’s Queensland Curtis LNG.
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