LONDON, Nov 28 - Woodside Energy ( WDS ) expects to
bring several partners into its Louisiana liquefied natural gas
development by the time the company gives the financial go-ahead
to the U.S. project in the first quarter of 2025, its CEO told
Reuters.
Australia-listed Woodside is seeking to sell a 50% stake in
the Louisiana LNG project, which it fully owns following
the $1.2 billion acquisition of developer Tellurian Inc in
October. The U.S. Gulf Coast facility could convert U.S. shale
gas into up to 27.7 million tons per annum of LNG.
Woodside has held talks with U.S. natural gas producers,
traditional LNG buyers who take an equity stake and LNG supplies
from the project as well as infrastructure-focused investors
seeking steady revenue over a long time, CEO Meg O'Neill told
Reuters.
Announcements on new partners in the projects would be
"concurrent with the FID (final investment decision) at the
latest," she said.
"The goal is to put together a dream team where everybody in
the partnership brings something of value. It might be an
understanding of the onshore gas market, it might be
infrastructure capital and LNG offtake and marketing expertise,"
she said.
O'Neill would not name any companies they have engaged with.
Reuters reported last month that Woodside was in talks with
Tokyo Gas ( TKGSF ) on a stake in the project, citing people familiar with
the matter.
O'Neill said that she was "comfortable" Woodside would be
able to finance its share of the development costs from its own
balance sheet.
Woodside will lock in natural gas supplies after final
investment decision on the project, which is expected to start
production in 2028, O'Neill said.
The project is estimated to cost around $900 to $960 per ton
of LNG after re-negotiating the development contract with
service company Bechtel, O'Neill added.
"There are some inflationary pressures, both in the supply
chain and the labor market," she said.
(Rerporting by Ron Bousso and Marwa Rashad; editing by David
Evans)