LNG

Sept 18 (LNGJ) - Woodside Petroleum completed the sale of a minority stake in the planned Browse LNG Development to Japan Australia LNG, a company set up by Mitsubishi Corp. and Mitsui. The sale involves the Japanese companies taking a 16 percent interest in the East Browse venture and an 8 percent interest in the West Browse venture for US$2 billion. This gives the new partners a 14.7 percent interest in Browse LNG. Woodside's interest in Browse will be reduced from 46 percent to 31.3 percent, but it remains operator.