Woodside Mulls Australia Gas Project Equity Sale

Law360, New York (January 27, 2012, 4:33 PM EST) -- Australian oil and gas company Woodside Petroleum Ltd. is considering selling a minority stake of its 50 percent interest in the AU$30 billion (US$32 billion) proposed Browse Basin liquefied natural gas project in Kimberley, Australia, the company said Friday.

The announcement was in response to speculation in the Australian media that Woodside would bring its share of the proposed natural gas processing development down to about 16 percent — a figure the company declined to verify.

While it confirmed that it was considering minority stake purchase...
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