Woodside Energy Group Ltd. has entered into a binding agreement with investment firm Stonepeak to farm out 40% interest in Louisiana LNG Infrastructure LLC, its LNG production and export terminal under construction in Calcasieu Parish, La.
Louisiana LNG has a total permitted capacity of 27.6 million tonnes/year (tpy) and is nearing final investment decision (FID) for the three train, 16.5 million tpy foundation development.
The agreement calls for Stonepeak to provide $5.7 billion towards the expected capital expenditure for development of the project’s initial development from the effective date of Jan. 1, 2025. Woodside said the agreement calls for investment on an accelerated basis, with Stonepeak contributing 75% of project capital expenditure in both 2025 and 2026. The remainder of Stonepeak’s committed capital will be funded in subsequent years, the operator continued.
The estimated forward cost for the foundation development remains $900-960/tonne, which includes EPC costs, contractor completion incentive payments, owner’s costs, allowances, and contingency. It excludes costs and contingency of Louisiana LNG LLC—the holding company operated by Woodside—and pipeline costs.