Woodside Energy expects to bring multiple partners into its Louisiana LNG project by the time it gives the financial green light for the U.S. development in the first quarter of 2025, according to the company’s CEO.
The Australian company is looking to sell a 50% stake in the Louisiana LNG project, which it fully owns after its $1.2 billion acquisition of Tellurian Inc. in October. This facility on the U.S. Gulf Coast will be capable of converting U.S. shale gas into up to 27.7 million tons of LNG per year.
CEO Meg O’Neill revealed that Woodside has been in discussions with U.S. natural gas producers, traditional LNG buyers, and infrastructure-focused investors who seek long-term, stable revenue. She confirmed that announcements of new partners will be made when the final investment decision (FID) is made.
“Our goal is to build a team where each partner contributes something valuable, whether it’s expertise in the gas market, capital for infrastructure, or LNG marketing knowledge,” she said.
Although O’Neill did not disclose specific companies, Reuters reported that Woodside is in talks with Tokyo Gas about a potential stake in the project.
O’Neill said she’s confident that Woodside can fund its share of the project’s development costs using its own balance sheet.
The project is expected to begin production in 2028, with natural gas supplies secured after the FID. The estimated cost of the project is between $900 and $960 per ton of LNG after renegotiating the contract with Bechtel. O’Neill also acknowledged inflationary pressures affecting both the supply chain and labor market.