(EnergyAsia, June 11 2013, Tuesday) — Australia’s BHP Billiton said it has completed the sale of its shareholdings in two US$45 billion offshore liquefied natural gas (LNG) ventures in Western Australia to a PetroChina subsidiary. (US$1=A$1.05).
Australia’s largest mining firm owned a 8.33% interest in the East Browse project and 20% stake in the West Browse project to PetroChina International Investment (Australia) Pty Ltd for US$1.63 billion.
BHP Billiton said all required approvals have been secured and relevant documents were signed in Beijing last week, ending the company’s participation in the Browse project.
Browse’s operator, Australian upstream firm Woodside, plans to develop a floating terminal to extract and produce LNG for export to Asia.