Woodside announced that it has signed a binding agreement with Stonepeak for the sale of a 40% interest in Louisiana LNG Infrastructure.
Woodside announced that it has signed a binding agreement with Stonepeak for the sale of a 40% interest in Louisiana LNG Infrastructure which is “a material step towards” readiness for a final investment decision for the project.
Under the agreement, Stonepeak will provide $5.7 billion towards the expected capital expenditure for the foundation development of Louisiana LNG on an accelerated basis, contributing 75% of project capital expenditure in both 2025 and 2026, Woodside said, adding that the remainder of Stonepeak’s committed capital will be funded in subsequent years.
“We will continue advancing discussions with additional potential partners targeting an equity sell-down of around 50% in the integrated project,” said Woodside CEO Meg O’Neill.
Completion of the transaction is subject to conditions precedent including the FID for the Louisiana LNG development, requisite regulatory, legal and other customary approvals. The effective date of the transaction is 1 January 2025, and closing is targeted in the second quarter of 2025.
According to the
Global LNG Database®, Woodside has signed a revised lump sum turnkey engineering, procurement and construction (EPC) contract with Bechtel for the development of the three trains 16.5 MMT/Y Louisiana LNG project (formerly Driftwood LNG).
The Australian operator has completed the acquisition of Tellurian and its under-development Driftwood LNG project via an approximately $1,200 million deal in October.
Louisiana LNG is fully permitted, its FEED is complete, and site civil works are well advanced and Bechtel Corporation having “completed substantial work to advance the opportunity to this stage.”
Perfect information about the world’s all LNG import/export projects such as “Driftwood LNG (now Woodside Louisiana LNG) project” is available on the Global LNG Database®. Learn more at:
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