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Woodside Energy approves major liquefied natural gas (LNG) venture in the U.S.

Woodside Energy of Australia plans to bolster its presence in the U.S. by pledging to develop the initial $17.5 billion phase of a top-tier American LNG project.

Liquefied Natural Gas (LNG) reflects the converted form of natural gas for efficient transportation...
Liquefied Natural Gas (LNG) reflects the converted form of natural gas for efficient transportation and storage purposes.

Woodside Energy approves major liquefied natural gas (LNG) venture in the U.S.

🚀🔥 Boosting Gas Game: Woodside Goes Big in Louisiana 🔥🚀

Australia's energy heavyweight, Woodside Energy, is taking a giant leap into U.S. soil by fully committing to the development of a massive LNG project in Louisiana. Once stalled, the revamped Louisiana LNG project is on the fast track to become a reality, thanks to Woodside's recent takeover last July for $900 million.

Previously known as the Driftwood project, the now renamed Louisiana LNG development holds a precious treasure: complete government permitting for up to five LNG production trains. These babies can theoretically crank out a whopping 27.5 million tons of LNG per year!

The first phase, which received Woodside's green light today, targets the construction of three trains producing 16.5Mtpa annually. And you bet your bottom dollar that American politicos are jumping on the bandwagon, viewing this move as a validation of Donald Trump's energy policies.

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Louisiana Governor Jeff Landry announced that Woodside's decision to develop its first LNG project in the U.S. sets a historic record as the State's biggest single foreign direct investment. With LNG operations already under its belt in Australia, including the original North West Shelf project, Woodside is prepping to build the Scarborough project and gear up for the Browse project, once it secures final approval.

Meg O'Neill, chief executive of Woodside, calls the Louisiana LNG project a "game changer" for the company. Boasting "a compelling, de-risked investment" and a projected cash generation, O'Neill believes Louisiana LNG will boost Woodside's standing as a global LNG powerhouse.

But this decision comes at a critical juncture for Woodside, as they wait for approval to build the Browse project – a long-delayed project that's stirring up political heat ahead of Australia's national election on Saturday, followed by Woodside's annual meeting next week.

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To add the cherry on top, Woodside has offloaded a portion of the infrastructure associated with the LNG project to Stonepeak, a New York-based infrastructure investment specialist. With $5.7 billion towards the project’s capital coast, Stonepeak will help Woodside create a balanced and resilient portfolio. The Louisiana LNG project offers access to abundant low-cost gas resources in the U.S., boasts an asset lifespan of more than 40 years, and promises marketing opportunities across the Pacific and Atlantic basins.

So, buckle up, folks! Woodside Energy is ready to change the LNG game, positioning itself as a major global LNG supplier – aiming to supply over 5% of global LNG by the 2030s. And while the stock market remains calm, the intrigue surrounding Woodside's future projects is heating up! 🔥🚀

Woodside Energy, with a projected investment of $609f680fca5a9a6bc00c00fdcba4c50e, plans to develop its biggest single foreign direct investment in Louisiana, setting a record for the state. The revamped Louisiana LNG project, initially called Driftwood, now boasts government permitting for up to five LNG production trains, each capable of producing 27.5 million tons of LNG per year. The first phase, involving three trains producing 16.5Mtpa annually, has received approval. This decision aligns with Donald Trump's energy policies, as seen by American politicos jumping on the bandwagon. The notional industry of finance will be affected as Woodside aims to become a significant player in the global LNG industry by supplying over 5% of global LNG by the 2030s.

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