| Work Detail |
The LNG project is expected to deliver first gas in 2029 Australias Woodside Energy said on Wednesday it has agreed to explore opportunities to collaborate with Saudi Aramco, which might take a stake in its $17.5 billion Louisiana liquefied natural gas project. Shares in Australias top gas producer surged nearly 4% after the announcement. The agreement, which could also see Aramco secure LNG supply, was a demonstration of the ongoing interest Louisiana LNG is generating among high-quality potential investors, Woodside CEO Meg ONeill said in a statement. Woodside in April gave its final approval for the project, confident that a pro-fossil fuel U.S. administration and strong demand would give it competitive returns. The three-train, 16.5 million tonnes per year project is expected to start producing LNG in 2029. Woodside has also sold a 40% interest in the company holding the infrastructure assets for the project to U.S. investor Stonepeak for $5.7 billion. MST Marquee senior energy analyst Saul Kavonic said a buy-in from a quality partner like Aramco would validate the projects worth to the market. Aramco arent doing this just for a few percent of a million tons ... when they go into something, they go big, he said. Aramco and Woodside are also looking at collaborating in lower-carbon ammonia. Kavonic also said he expects Woodside to take on additional equity partners based in Asia. Woodside has held talks with buyers such as Tokyo Gas and Japans JERA. |
