Woodside Energy continues to make progress — and book income — on its Scarborough Energy LNG project in Western Australia, the company said in an Aug. 26 earnings report.

Through the first half of the year, Woodside has signed agreements or joint venture (JV) interests for the LNG project valued at more than $2.3 billion.

The Scarborough project was 67% complete at the end of first-half 2024, with first LNG cargo expected in 2026, the company said.

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During the first half of the year, Woodside signed an agreement with Japan’s JERA Co. Inc. to sell a 15.1% non-operated participating interest in the Scarborough JV. The estimated total consideration of the February deal was $1.4 billion.

In March, the company also completed the sale of a 10% non-operated participating interest in the JV to LNG Japan for $910 million.

Woodside also signed sale and purchase agreements with Korea Gas Corp. (KOGAS) and CPC Corp. Taiwan (CPC) for the long-term supply of LNG to Korea and Taiwan.

Woodside Energy CEO Meg O’Neill said the company has made “good progress” on Scarborough.

“Work on the Scarborough floating production unit passed a major milestone with structural completion of the topsides,” she said.

The Scarborough gas field is located in the Carnarvon Basin, approximately 375 km off the coast of Western Australia.

The development includes installation of a floating production unit, with eight wells drilled in the initial phase and 13 wells drilled over the life of the Scarborough Field.

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