LNG

Australian energy giant Woodside has exercised its pre-emptive right to buy PetroChina’s 10.67% stake in the Browse gas field, blocking a deal with Japan’s Inpex. Browse is meant to underpin a development liking to Woodside’s North West Shelf LNG terminal, whose current gas resources are depleting.

Woodside is considering using its pre-emptive rights to veto Inpex’s farm-in to the Browse joint venture, as this move threatens to undermine feedgas supply for its North-West Shelf LNG export terminal. The deal is seen as a catalyst to shift Browse gas production away from the NWS LNG hub towards Inpex’s Ichthys LNG train in Darwin.