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(Bloomberg) — Woodside Energy Group Ltd. is in talks with the overseas unit of Kuwait Petroleum Corp. for selling a stake in its proposed liquefied natural gas export project in the US, according to people with knowledge of the matter.
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Kuwait Foreign Petroleum Exploration Co., known as Kufpec, is also considering securing LNG supply from the project in Louisiana, along with taking a stake, the people said, asking not to be named because the talks are private. 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.
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Woodside and Kuwait Petroleum declined to comment. Other companies are also interested for both equity and LNG supply, according to the people familiar with the plan. There’s a chance all talks could still fall apart, they said.
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Companies, including from Asia and the Middle East, have been looking to invest in US energy and LNG projects to tap into rising gas output as the country brings on a raft of new facilities. The spending may also help appease President Donald Trump, who imposed, and then delayed, widespread tariffs on many countries this month, indicating one way to avoid levies was to buy more American energy.
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Woodside would need to invest billions of dollars to complete the Louisiana LNG site, and Chief Executive Officer Meg O’Neill said in March a partner would be selected soon ahead of a final investment decision.
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The Australian gas producer took control of the fully-permitted export project after acquiring developer Tellurian Inc. in 2024. Woodside had previously targeted 2029 as a potential start date for first exports from Louisiana LNG.
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—With assistance from Fiona MacDonald and Dinesh Nair.
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