Woodside Petroleum Ltd. has started an auction to sell most of its 50% stake in the Browse gas project in Western Australia, The Australian reported. The sale could reportedly fetch at least $1 billion. The auction could also scrap the plans to build a processing plant on the Kimberley coast. Woodside's plan is reportedly to reduce its 50% stake to 16.67% as part of a strategy to align of the ownership of the Browse joint venture more closely with the North West Shelf liquefied natural gas project, The Australian reported.