After announcing the project’s final investment decision last week, Woodside Energy said Tuesday that it planned to divest an additional 20% to 30% stake in its $17.5 billion Louisiana LNG project, Reuters reports.
The move would reduce Woodside’s ownership to approximately 50%, falling in line with the company’s investment goals. In April, Woodside sold a 40% stake in the project’s infrastructure company to Stonepeak for $5.7 billion.
The Louisiana LNG project is expected to commence gas production in 2029 and is projected to generate $2 billion in annual net operating cash during the 2030s.
Woodside’s COO Liz Westcott in a statement highlighted growing interest from potential partners, attributing it to supportive U.S. energy policies and strong demand in Europe and Asia.
