The logo for Woodside Petroleum, Australia's top independent oil and gas company, adorns a promotional poster on display at a briefing for investors in Sydney, Australia, May 23, 2018.
This decision follows Woodside’s recent assessment of U.S. trade policies and their potential effects on the project. The Louisiana facility will consist of three processing units, or trains, with a combined capacity of 16.5 million tons per annum (Mtpa). Production is expected to start in 2029. The project also has the potential to expand with two additional trains, increasing its capacity to 27.6 Mtpa.
The investment will enable Woodside to deliver approximately 24 Mtpa from its global LNG portfolio over the next decade. The company noted: “This project will contribute to over 5% of global LNG supply.”
Stonepeak, an investor in Louisiana LNG Infrastructure LLC, will provide $5.7 billion toward the project’s capital expenditure on an accelerated basis, reducing Woodside’s share to $11.8 billion.
Woodside confirmed that its greenhouse gas emission reduction targets remain unchanged following this investment decision, underscoring its commitment to environmental goals while advancing the Louisiana project.
