Woodside Petroleum Limited (ASX:WPL) has sold a stake in its Browse LNG development to Japan Australia LNG Pty Ltd for $US2 billion.
The divestment will drop Woodside’s stake from 46 per cent to 31.3 per cent.
CEO Peter Coleman says, Browse is a world-class resource and the level of interest shown during this process reflects the strong ongoing demand for LNG from premium developments.
In the 2011 financial year Woodside Petroleum reported a net profit of $1.49 billion.
