BP reduces its 44% stake in Woodside’s Browse LNG project by selling a 5% interest to South Korea’s GS Energy for portfolio optimization.
BP will sell a 5% stake in Australia’s $35 billion Browse LNG project to South Korea’s GS Energy, trimming its 44% interest. The move aligns with BP’s strategy to refine its portfolio by partnering with committed investors.
Woodside Energy, the project’s operator, is advancing the Browse to North West Shelf development, which targets large-scale liquefied natural gas production. BP’s remaining 39% stake retains its position as a key participant in the venture.
The transaction reflects broader industry trends of supermajors adjusting asset exposure amid shifting energy market dynamics.