Deals
Woodside to Pay $2.75 Billion for Apache LNG Project Stakes
This article is for subscribers only.
Australia’s Woodside Petroleum Ltd. agreed to pay Apache Corp. $2.75 billion for stakes in two liquefied natural gas projects, while delaying approval for its own $35 billion-development off the nation’s northwest coast.
The Apache transaction will give Woodside interests in the Wheatstone LNG and Balnaves oil projects in Australia as well as Canada’s Kitimat LNG development. The projects are among dozens under construction or consideration worldwide as companies seek to feed Asian markets hungry for gas.