Woodside Energy plans to secure multiple partners for its Louisiana liquefied natural gas (LNG) project before making a final investment decision (FID) in the first quarter of 2025, CEO Meg O’Neill told Reuters.
The Australian-listed energy company is offering a 50% stake in the US Gulf Coast facility, which it fully acquired through its $1.2 billion purchase of Tellurian in October.
The project is designed to process up to 27.7 million tons per annum of LNG from US shale gas.
Woodside is in discussions with US natural gas producers, traditional LNG buyers interested in equity stakes and LNG supply, as well as infrastructure-focused investors seeking steady, long-term revenue streams.
“The goal is to assemble a dream team where every partner contributes unique value—whether that’s expertise in onshore gas markets, infrastructure capital, or LNG offtake and marketing,” O’Neill explained.
While specific partners were not disclosed, sources previously told Reuters that Tokyo Gas was among the companies in talks with Woodside.
O’Neill expressed confidence in Woodside’s ability to finance its share of development costs from its balance sheet.
Natural gas supply agreements will be finalized after the FID, with production targeted to begin in 2028.
The estimated cost for the project ranges from $900 to $960 per ton of LNG, following renegotiations with engineering firm Bechtel. “Inflationary pressures in both the supply chain and labor market are being managed,” O’Neill noted.
Woodside’s Louisiana LNG project is expected to play a pivotal role in expanding US LNG exports and meeting global energy demands. Announcements on partnerships are anticipated alongside the FID in 2025.
