known as Plaquemines LNG – as it seeks to reduce its exposure to the $5.1 billion endeavor. The company is currently in discussions with potential equity partners from Asia and Europe, with the goal of reaching a deal by the first quarter of 2025.
The Louisiana LNG project is a key part of Woodside’s strategy to expand its presence in the North American market and capitalize on the growing demand for natural gas. The facility is expected to have an annual capacity of around 9 million tonnes and is scheduled to be operational by 2025.
Woodside’s CEO, Meg O’Neill, emphasized the importance of finding the right partners to share the risks and rewards of the project. By bringing in additional partners, Woodside aims to not only reduce its financial exposure but also benefit from their expertise and resources.
The decision to bring in equity partners reflects Woodside’s commitment to responsible growth and strategic partnerships. With the goal of finalizing a deal by Q1 2025, the company is taking proactive steps to ensure the success of the Louisiana LNG project and strengthen its position in the global energy market.
Source
Photo credit seekingalpha.com
