According to The Australian Financial Review, Japan has laid down a $US1.4 billion ($2.1 billion) vote of confidence in Australian gas by taking a big slice of Woodside Energy’s Scarborough project in Western Australia, underscoring Asia’s appetite for supply of the fossil fuel for decades to come.
The deal by JERA, Japan’s largest importer of LNG, to acquire a 15.1 per cent stake in the Scarborough development comes six months after Japan LNG agreed to buy a 10 per cent stake in a $US880 million deal. The two deals, worth $3.5 billion in total, bring four major Japanese players – Tokyo Electric Power, Chubu Electric Power, Sojitz and Sumitomo – into Australia’s biggest resource project, a $16.5 billion development beset by legal challenges and environmental protests. https://www.afr.com/companies/energy/woodside-in-2-1b-scarborough-lng-sale-to-japanese-20240223-p5f7c4
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