Woodside, BHP Green Light $12 Billion Australian Scarborough LNG project

The twinned Scarborough and Pluto Train 2 project is essential to the future of Woodside, Australia's biggest independent oil and gas company.

Sonali Paul, Reuters

Woodside Petroleum and BHP Group gave their final go-aheads to spend $12 billion to develop the Scarborough gas field off Western Australia and expand the Pluto LNG plant, with the first cargo expected in 2026.

The approval on Nov. 22 came at the same time that Woodside and BHP signed an agreement to merge BHP's petroleum arm into Woodside to create a global top 10 independent oil and gas producer, as announced in August.

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