Woodside Lands Investment Partner for Louisiana LNG Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--Woodside Energy Group (NYSE:WDS) (Perth, Australia) entered a binding agreement to sell a 40% stake in the Louisiana LNG export facility project to investment firm Stonepeak (New York, New York), who will invest $5.7 billion in the project that is now one step closer to a final investment decision (FID).

Under the transaction, Stonepeak will provide $5.7 billion toward the expected capital expenditure (capex) for the foundation development of Louisiana LNG--three trains with a combined capacity of 16.5 million tonnes per annum--including 75% of project capital expenditures in 2025 and 2026. The remainder of Stonepeak's committed capital will be funded in subsequent years.

Woodside will remain the sole operator.

"Our partnership with Stonepeak, together with our lump sum turnkey EPC [engineering, procurement and construction] agreement with Bechtel Corporation (Reston, Virginia), and existing regulatory permits, give us confidence to progress at pace towards a final investment decision on Louisiana LNG," Woodside said in a press release.

Woodside renamed the three-train facility after it completed its buyout of U.S. LNG (liquefied natural gas) developer Tellurian in October of last year. It was previously named Driftwood LNG.

Tellurian in 2022 secured the permits necessary for the start of construction at the facility planned for Lake Charles, Louisiana. Phase I will be able to export as much as 1.5 billion cubic feet of LNG per day.

Bechtel started EPC work on the three trains in October. In January of this year, Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) signed an agreement to supply eight gas turbines and compressors and other infrastructure for liquefaction operations.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can click here for a full list of detailed reports for projects related to Louisiana LNG.

Woodside had previously targeted 2029 as a potential start date for first exports from Louisiana LNG.

Completion of the transaction is subject to conditions, including reaching an FID and receiving all required approvals; the effective date for the transaction is January 1, and closing is targeted for the second quarter. Woodside said that upon completion it anticipates Stonepeak will pay approximately $2 billion for its share of capex incurred since the effective date.

Woodside added it continues to advance discussions with other potential partners "targeting an equity sell-down of around 50% in the integrated project."

The project will add more LNG export capacity for the U.S., which in 2016 jumped Australia and Qatar to become the world leader in LNG exports. Domestic exports were further bolstered by Europe's decision to wean itself off Russian natural gas following the invasion of Ukraine in 2022.

IIR Energy data show the March average for U.S. LNG exports set a record, with levels roughly 1.5 billion cubic feet per day higher than at the end of 2024. For more information, see April 3, 2025, article - IIR Energy Finds U.S. LNG Exports Hit a Record in March.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).