Woodside Partners with Williams for Louisiana LNG Project, Seeks Further Investors

Woodside Energy has partnered with Williams to develop its $17.5 billion Louisiana liquefied natural gas (LNG) plant, tapping Williams' infrastructure expertise and easing cost pressures. The deal gives Williams a 10% stake in the holding company and 80% of the Driftwood pipeline, with Williams paying $378 million and contributing $1.9 billion towards construction costs. Woodside is looking to sell a further 10% to 20% in the holding company. The partnership is expected to ease balance sheet pressures and raise the project's profile in the US.