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BP Sells 5% Stake In Australia's Newest $35 Billion LNG Project
BP Sells 5% Stake In Australia's Newest $35 Billion LNG Project
By Tsvetana Paraskova of OilPrice.com
BP will sell 5% in the $35-billion Browse LNG project in Australia, which Australian energy giant Woodside is looking to progress, the UK-based supermajor told Reuters on Monday.
BP is selling the 5% stake, out of its total of its 44% interest, to South Korea's GS Energy.
“The dilution reflects BP’s disciplined approach to portfolio management by bringing in a committed partner,” BP said in a statement emailed to Reuters.
The Browse LNG project in Australia, proposed by...
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