Under the MoU, the firms will initially discuss and assess the potential development of the project.
Woodside and Sempra LNG are required to secure internal and external approvals prior to moving ahead with binding agreement which include launch of any joint venture or partnership, for the project development.
Sempra said that the project’s further development will be subject to commercial agreements, permits and approvals, financing commitments and potential tax incentives along with other customary conditions and final investment decision.
Sempra LNG commercial and development vice-president Scott Chrisman said: "Sempra Energy and Woodside bring together an extraordinary complementary set of experience and skills from two world-class organizations."
The proposed project will comprise two natural gas liquefaction trains with a combined export capability of around 10 million metric tons annually or 1.4 billion ft3 per day.
The project will also feature LNG storage tanks and marine facilities for LNG ship berthing and loading.
