Construction progress at Woodside's Pluto LNG to lower cost overrun, says Citi
** Citi upbeat on Woodside Energy WDS.AX as construction progress at its Pluto LNG worksite in Western Australia leads to an estimated reduction in cost overrun
** Brokerage expects oil and gas producer's cost overrun to drop to $500 mln from $1 bln due to lowered construction risks from topsides being built in a yard
** Citi projects first LNG production from Pluto T1 in 2H2026, says this might dampen over-optimistic 2026 earnings projections
** Maintains "sell" rating and PT of A$23
** Woodside Energy shares down as much as 0.41% to A$24.140
** Stock down 22% YTD, as of 2323 GMT
Reporting by Kumar Tanishk in Bengaluru
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