MELBOURNE, May 21 (Reuters) - Woodside Petroleum Ltd said it would welcome future discussions on joining Israel's Leviathan gas project but only if the investment conditions are significantly changed.

"Providing there are material changes to the current investment conditions, we would welcome future discussions," a Woodside spokesperson said in a statement emailed to Reuters.

Woodside has scrapped plans to buy a stake in the venture.

(Reporting by Sonali Paul; Editing by Miral Fahmy)