Woodside to bring in several partners to Louisiana LNG project by March, CEO says
LONDON - Woodside Energy expects to bring several partners into its Louisiana liquefied natural gas development by the time the company gives the financial go-ahead to the US project in the first quarter of 2025, its CEO told Reuters.
Australia-listed Woodside is seeking to sell a 50% stake in the Louisiana LNG project, which it fully owns following the $1.2-billion acquisition of developer Tellurian in October. The US Gulf Coast facility could convert US shale gas into up to 27.7-million tons per annum of LNG.
Woodside has held talks with US natural gas producers, traditional LNG buyers who take an equity stake and LNG supplies from the project as well as infrastructure-focused investors seeking steady revenue over a long time, CEO Meg O'Neill told Reuters.
Announcements on new partners in the projects would be "concurrent with the FID (final investment decision) at the latest," she said.
"The goal is to put together a dream team where everybody in the partnership brings something of value. It might be an understanding of the onshore gas market, it might be infrastructure capital and LNG offtake and marketing expertise," she said.
O'Neill would not name any companies they have engaged with. Reuters reported last month that Woodside was in talks with Tokyo Gas on a stake in the project, citing people familiar with the matter.
O'Neill said that she was "comfortable" Woodside would be able to finance its share of the development costs from its own balance sheet.
Woodside will lock in natural gas supplies after final investment decision on the project, which is expected to start production in 2028, O'Neill said.
The project is estimated to cost around $900 to $960 per ton of LNG after re-negotiating the development contract with service company Bechtel, O'Neill added.
"There are some inflationary pressures, both in the supply chain and the labor market," she said.
Comments
Research Reports
Latest Multimedia
Showroom
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
