Woodside signs agreement for Louisiana LNG

Bechtel has worked on site since the acquisition and will continue work under a limited notice to proceed (LNTP) executed under the revised EPC contract. The LNTP provides for continued site construction and commitment to certain key materials and services required for the foundation project.

Woodside CEO, Meg O’Neill, said the signing of the EPC contract and continuation of engineering and construction activities contemplated by the LNTP represented an important step in the development of Louisiana LNG.

“Louisiana LNG is positioned to provide LNG into the growing global market and generate value for shareholders in accordance with our capital allocation framework.

“We continue to move at pace. In a short period of time, we have completed the acquisition, secured competitive revised EPC pricing that covers all three trains, and opened the data room with strong interest from potential project partners.

“Louisiana LNG is an advantaged project that is fully permitted and has Bechtel as the EPC contractor. The competitive pricing and schedule certainty we have now secured compounds this advantage in the current uncertain market environment for competing projects.”

Woodside continues to target final investment decision (FID) readiness from 1Q25. Total Louisiana LNG expenditure from December to end of 1Q25 is forecast to be up to AUS$1.3 billion, which is included in the overall estimated cost for the foundation development. The estimated forward cost for the foundation development is AUS$900 – AUS$960/t, unchanged from the range at the time of acquisition.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Autumn 2024 issue

Dive into the latest renewable energy insights in the Autumn issue of Energy Global, out now! The issue starts with an insightful guest comment from Cristiano Spillati, Managing Director at Limes Renewable Energy where he discusses the need for European renewable energy suppliers to accelerate the rate of the energy transition. This is followed by a regional report from Cornwall Insights on the battery energy storage industry in Australia. This issue explores key topics including offshore wind subsea cables, offshore wind support vessels, digitalisation, wind turbine components, and more!

Read the article online at: https://www.lngindustry.com/liquefaction/05122024/woodside-signs-agreement-for-louisiana-lng/