Apache takes Woodside to court over Wheatstone LNG deal

Apache takes Woodside to court over Wheatstone LNG deal

Houston-based Apache Corporation has taken legal action against Australian LNG player, Woodside due to issues related to disputed payments for Wheatstone LNG project.

Apache is seeking damages in the amount of US$64 million claiming Woodside breached the initial agreement, Perth Now reports.

The two companies signed a deal in December 2014 for Woodside to acquire Apache’s stake in Wheatstone and Kitimat LNG, closing the transaction on April 2 for a total cost of US$2.817 billion.

Apache filed a writ to the Supreme Court recently claiming that the disputed payment happened in March in the transitional period during which the company was selling its Wheatstone LNG stake to Woodside.

Apache wrote to Woodside in June in an attempt to recover the money, revealing in its writ that Woodside refused to pay any sum at all, according to the report.

 

LNG World News Staff; Image: Chevron

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