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Apache to sell stakes in two LNG projects to Woodside for $2.75 billion

[December 15, 2014]  (Reuters) - Apache Corp <APA.N> said it would sell its stakes in two LNG projects, Wheatstone LNG in Australia and Kitimat LNG in Canada, along with accompanying upstream oil and gas reserves, to Australia's Woodside Petroleum Ltd <WPL.AX> for $2.75 billion.

Apache will also be reimbursed for its net spending on the two projects between June 30 this year and the closing date, which it estimated at $1 billion, the company said on Monday.

(Reporting by Ashutosh Pandey in Bengaluru; Editing by Ted Kerr)

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