Woodside has made a final investment decision (FID) to develop the three-train, 16.5 million tonne/year (tpy) Louisiana LNG development, targeting first LNG in 2029.
The development has expansion capacity for two additional LNG trains and is fully permitted for a total capacity of 27.6 million tpy, the company said in a release Apr. 29.
The forecast total capital expenditure for the LNG project, pipeline, and management reserve is about US$17.5 billion (100%). Stonepeak, as an investor in Louisiana LNG Infrastructure LLC, will provide $5.7 billion towards the expected capital expenditure for the LNG project on an accelerated basis, contributing 75% of capital expenditure in both 2025 and 2026. Woodside’s share of forecast total capital expenditure is $11.8 billion.
Woodside chief executive officer Meg O’Neill said FID is a “game-changer for Woodside, set to position our company as a global LNG powerhouse and enable us to deliver enduring shareholder returns.”
With Louisiana LNG in operation, the company expects to deliver about 24 million tpy from its global LNG portfolio in the 2030s, operating over 5% of global LNG supply.
“Adding Louisiana LNG to our established Australian LNG business provides Woodside with a balanced and resilient portfolio, combining long-life, flexible LNG assets with high-return oil assets.
O’Neill said the company is advancing discussions targeting further equity sell-downs.