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(Bloomberg) — Woodside Energy Group Ltd. made a final investment decision on a $17.5 billion liquefied natural gas export project in the US, cementing the Australian company’s position as a top supplier.
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The approval clears large-scale construction of the Louisiana LNG plant, which is targeting its first shipment in 2029, Woodside said Tuesday. The development will see the company operating more than 5% of global supply in the 2030s, it said.
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Louisiana LNG is a key part of Perth-based Woodside’s plans to expand away from its plants in Australia, which mainly supply Asian customers. It will also further cement the role of the US as the world’s biggest shipper of the super-chilled natural gas, widening its lead over Qatar and Australia.
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“Louisiana LNG is a game-changer for Woodside, set to position our company as a global LNG powerhouse,” Chief Executive Officer Meg O’Neill said. “The marketing opportunities Louisiana LNG offers across the Pacific and Atlantic Basins leverages Woodside’s proven LNG marketing capabilities and complements our established position in Asia.”
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The investment decision covers three LNG production units, or trains, with a capacity of 16.5 million tons a year, with potential to expand the site with two more trains, to 27.6 million tons. The project will enable Woodside to deliver about 24 million tons of LNG a year from its global portfolio in the next decade, it said.
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Earlier this month, Woodside sold 40% of Louisiana LNG Infrastructure LLC to Stonepeak and said the buyer will invest $5.7 billion in the gas export facility. The gas producer took control of the fully permitted export project after acquiring developer Tellurian Inc. in 2024.
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Woodside is also in talks with the overseas unit of Kuwait Petroleum Corp. over a stake in and supply from the project, according to people with knowledge of the matter. Other companies are also interested for both equity and LNG supply, the people said.
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(Updates with planned capacity in fourth paragraph)
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