The move comes amid President Donald Trump’s declaration of a national energy emergency.
Australian energy giant Woodside will move forward with a $27 billion (US$17.5 billion) liquefied natural gas (LNG) project in Louisiana, USA.
Woodside shares rose 1.47% on the Australian Stock Exchange (ASX) in response to the news on April 29th.
Woodside expects the project to produce approximately 16.5 million tonnes of gas per year (MTPA) in 2029 and $2 billion in cash per year from the 2030s.
By the 2030s, Woodside hopes to produce 24 MTPA gas from the project, contributing to 5% of the global total LNG supply.
Related Stories
Woodside CEO Meg O’Neill described the news as a “historic moment” for the company.
“Louisiana LNG is a game changer for Woodside and has now positioned us as a global LNG powerhouse, providing lasting shareholder returns,” she said.
“This world-class project is a compelling and risky investment. It leverages Woodside’s proven strengths in project execution, operational excellence, marketing and customer relationships to provide critical cash generation and drive long-term shareholder value.”
O’Neill said Woodside is ready to secure quality partners and make the ultimate investment decision.
“When adding Louisiana LNG to the established Australian LNG business, Woodside offers a balanced and resilient portfolio, combining long-term, flexible LNG assets with high-return oil assets,” she said.
O’Neill noted that the project benefits from access to the rich, low-cost gas resources in the United States, with an asset lifespan of over 40 years.
“We also have access to a well-established interstate and regional gas supply network. The marketing opportunities Louisiana LNG offers across the Pacific and Atlantic Basin will leverage Woodside’s proven LNG marketing capabilities and complement its established position in Asia,” she said.
This allows Woodside to better serve its global customers and meet growing energy needs.
“This supply can cover the strong and sustained demand for LNG expected in both Asia and Europe as these markets pursue energy security and decarbonisation aspirations,” O’Neill said.
“We are pleased with the strong level of interest from our potential strategic partners and are currently in discussions targeting further divestitures of stock.
“This further reduces the Woodside capital, accelerates the value of Louisiana LNG, and is consistent with the approach taken in the Australian Scarborough Energy Project.”
Woodside thank the US government for its support
Woodside thanked both the Trump administration and the Louisiana government for supporting the project.
“As the largest single foreign direct investment in Louisiana’s history, Louisiana LNG will also be the first Greenfield US LNG project to reach its final investment decision since July 2023,” O’Neill said.
“Louisiana LNG supports approximately 15,000 national employment during construction. Woodside appreciates the support Louisiana LNG has received from both the federal and Louisiana governments.”
Trump promotes energy projects
Since taking office, President Trump has been working to promote the approval process for energy projects that include natural gas fluids.
On his first day in office, he declared a national energy emergency to ensure the US energy supply and directed the agency to promote the project.
“To promote the energy supply of the country, the agency shall identify and use all relevant legitimate emergency situations and other authorities to facilitate the completion of all accredited infrastructure, energy, environmental and natural resource projects within the identified authority of each secretary implementing or advancing.”
In response to the National Energy Declaration, the US Department of the Interior has cut energy permits from multi-process to 28 days.
This applies to crude oil, natural gas, natural gas liquids, oil, coal, uranium, biofuels and geothermal energy.
