BHP Billiton says it has completed the sale of its stakes in the East and West Browse joint ventures in Australia to PetroChina.
The resources company had an 8.33 per cent interest in the East Browse venture, and a 20 per cent stake in the West Browse operation, which were acquired by PetroChina for £1.05bn.
The proposed facility is looking to extract 15million tones of liquefied natural gas per year.
The deal, originally announced last year, completed its required approvals this week ahead of the sale in China, and marks the company’s withdrawl from the joint ventures, which are operated by Woodside, Shell and Japan Australia