On top of the company’s $41 billion merger deal with BHP this week, Woodside has also secured a $16.5 billion LNG development that will see gas from Scarborough processed at Woodside’s Pluto facility.
Under the development, a second LNG train and new domestic gas facility at the Pluto site will be constructed.
Pluto Train 2 will be one of the lowest carbon intensity sources of LNG in north Asia, with first cargo anticipated in 2026.
Woodside chief executive officer Meg O’Neill said approving the development of Scarborough is a landmark achievement for the company.
“Today’s decisions set Woodside on a transformative path. Scarborough will be a significant contributor to Woodside’s cash flows, the funding for future developments and new energy products, and shareholder returns,” said O’Neill.
“Developing Scarborough delivers value for Woodside shareholders and significant long-term benefits locally and nationally, including thousands of jobs, taxation revenue and the supply of gas to export and domestic markets for decades to come.”
The WA Government has welcomed the FIDs for the Scarborough and Pluto Train 2 projects, with both expected to create more than 3200 local jobs.
“In the coming days, we will execute agreements with the Scarborough and Pluto Train 2 joint ventures that will provide energy certainty for the State and support thousands of local jobs, as well as providing a transition fuel source for our major trading partners, said Premier Mark McGowan.
Following the FIDs, the government will execute agreements to secure domestic gas, local industry participation and community development benefits for the developments.
Construction is expected to commence on the Pluto site in 2022 and once operational will support another 600 jobs.
For more information visit the Woodside website.
