BP Reportedly Selling 5% Stake in Browse LNG Project to GS Energy
MT Newswires Live
Jun 01
BP (BP) is selling a 5% stake in the Browse liquefied natural gas project in Western Australia to GS Energy, leaving it with a 39.33% interest in the project, news outlets reported Monday.
Financial details of the transaction were not disclosed.
The sale is part of BP's portfolio management strategy of onboarding a partner to advance the project, the reports said, citing an emailed statement from BP. The project is expected to cost 48.7 billion Australian dollars ($34.97 billion) according to the reports.
BP and GS Energy did not immediately respond to MT Newswires' requests for comments.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.