Woodside has secured a $1bn loan to fund its Australia-based Scarborough Energy Project, which hopes to produce around eight million tonnes of liquefied natural gas (LNG) per year.
The global energy company secured the capital through a signed loan agreement with the Japan Bank for International Cooperation (JBIC), which has supported all of Woodside’s major Australian projects.
Meg O’Neil, CEO of Woodside, said the loan reflects the longstanding relationship between the two companies and ongoing confidence from Japanese investors in Woodside’s Australian LNG projects.
She continued, “Investment in new Australian LNG supplies, like Scarborough, can help Japanese customers meet their energy security needs while also supporting regional decarbonisation goals.”
