Australian oil and gas firm Woodside Energy has marked rapid progress on its $17.5 billion Louisiana LNG project, with construction on the first of three liquefaction trains already more than 22% complete since the final investment decision in April.
At a groundbreaking ceremony attended by state, federal and local leaders, Woodside said the workforce on site has ramped up to almost 900 people.
The south-west Louisiana project is designed to deliver 16.5 million tonnes per annum (mtpa) from three trains starting in 2029, with permits in place to expand capacity to 27.6 mtpa.
In June, Woodside sold down a 40% stake in Louisiana LNG Infrastructure LLC to New York-based investment firm Stonepeak and continues talks with potential equity partners.
“The project is a game-changer for Woodside, marking our biggest-ever investment in the US and representing the largest foreign direct investment in Louisiana’s history. It positions Woodside as a global LNG powerhouse and will deliver enduring returns to shareholders.
“Louisiana LNG will be a significant contributor to U.S. LNG exports, supporting the nation’s role as a leading energy supplier to the world. It is expected to support tens of thousands of high-quality jobs in the US, strengthen global energy security and generate billions of dollars in local and national revenues, delivering long-term benefits to the communities where we operate,” said Meg O’Neill, Woodside’s CEO.
The company is continuing discussions with potential high-quality partners interested in acquiring equity in the project holding company Louisiana LNG LLC.
“Woodside is focused on the safe execution and delivery of Louisiana LNG. Construction activity under our contractor Bechtel is proceeding at pace. The facility is being constructed piece-by-piece in the U.S., meaning approximately 85% of the construction spend is local. At the same time, we continue to actively market US LNG in Europe and Asia, targeting delivery from 2029 onwards,” added Sarah Bairstow, Louisiana LNG President.