Australia's Woodside sells 49% in planned expansion of Pluto LNG plant to GIP

Australia's Woodside sells 49% in planned expansion of Pluto LNG plant to GIP

The Woodside Petroleum Ltd. logo is displayed atop the Woodside Plaza building, which houses the company's headquarters, in the central business district of Perth, Australia, on Wednesday, Feb. 19, 2014. Photographer: Aaron Bunch/Bloomberg

Australia’s Woodside Petroleum on Monday took a big step toward funding its biggest growth project, announcing the sale of a 49% stake in the planned expansion of its Pluto liquefied natural gas (LNG) plant in Western Australia.

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