Woodside's Louisiana LNG: A Competitive Edge in the Global Energy Market

Woodside, one of Australia's leading energy companies, has signed a revised lump sum turnkey engineering, procurement and construction (EPC) contract with Bechtel for the development of the three-train, 16.5 million tonnes per annum foundation development of Louisiana LNG. This strategic move signifies Woodside's commitment to expanding its US LNG position and capturing marketing optimization opportunities across the Atlantic and Pacific basins.

The signing of this EPC contract, along with the continuation of engineering and construction activities contemplated by the limited notice to proceed (LNTP), represents an important step in the development of Louisiana LNG. Woodside CEO Meg O'Neill expressed confidence in the project's position to provide LNG into the growing global market, generating value for shareholders in accordance with Woodside's capital allocation framework.



Woodside has secured competitive revised EPC pricing that covers all three trains, opening the data room with strong interest from potential project partners. The competitive pricing and schedule certainty Woodside has now secured compound this advantage in the current uncertain market environment for competing projects. Louisiana LNG is an advantaged project that is fully permitted and has Bechtel as the EPC contractor.

Woodside continues to target final investment decision (FID) readiness from the first quarter of 2025. Total Louisiana LNG expenditure from December to the end of the first quarter of 2025 is forecast to be up to $1.3 billion, which is included in the overall estimated cost for the foundation development. The estimated forward cost for the foundation development remains at $900-960/tonne, unchanged from the range at the time of acquisition.

Louisiana LNG is a major growth opportunity that would expand Woodside's US LNG position, enabling the company to better serve global customers and capture marketing optimization opportunities across the Atlantic and Pacific basins. This announcement was approved and authorized for release by Woodside's Disclosure Committee.

In conclusion, Woodside's Louisiana LNG project, with competitive EPC pricing, strong interest from potential partners, and a fully permitted status, positions the company to capture significant value in the growing global LNG market. As Woodside pursues strategic partnerships and joint ventures to attract more interest and maximize the value of the Louisiana LNG project, investors should closely monitor the company's progress, as it represents a promising opportunity in the energy sector.