Woodside Partners with Stonepeak for Louisiana LNG Project

In a significant move that underscores the growing importance of liquefied natural gas (LNG) in the global energy landscape, Woodside Energy Group Ltd has announced a strategic partnership with Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. The collaboration involves Stonepeak acquiring a 40% interest in Louisiana LNG Infrastructure LLC, a major LNG production and export terminal located in Calcasieu Parish, Louisiana. This partnership not only highlights the increasing demand for LNG but also aligns with broader energy transition goals, as both companies aim to meet the world’s growing energy needs while transitioning to lower-carbon energy sources.



The Louisiana LNG project, with a total permitted capacity of 27.6 million tonnes per annum, is strategically positioned in the heart of the Gulf Coast LNG corridor. This location provides close proximity to natural gas resources and direct access to the US Gulf, making it an ideal hub for LNG exports. The project is nearing its final investment decision (FID) for the foundation development, with construction already underway and the front-end engineering design completed. Bechtel, a renowned industry leader in infrastructure project delivery, is serving as the engineering, procurement, and construction (EPC) contractor for the project.

The partnership brings several strategic advantages to the Louisiana LNG project. Stonepeak’s demonstrated track record in investing in US gas and LNG infrastructure, coupled with its financial strength of approximately $72 billion in assets under management, provides a robust foundation for the project. Stonepeak will contribute $5.7 billion in capital expenditure for the foundation development, significantly reducing Woodside’s capital expenditure and accelerating the project’s timeline. This financial support allows Woodside to focus on other growth opportunities and investments in new energy products that are expected to supply energy with lower-carbon emissions at the point of use than oil and gas products.

Woodside CEO Meg O’Neill expressed her enthusiasm for the partnership, stating, “We are very pleased to have Stonepeak join us in Louisiana LNG, given their demonstrated track record investing in US gas and LNG infrastructure across LNG facilities, LNG carriers, and floating storage and regasification units. This transaction further confirms Louisiana LNG’s position as a globally attractive investment set to deliver long-term value to our shareholders. It is the result of a highly competitive process that attracted leading global counterparties.”

The partnership also aligns with Woodside’s broader strategy to adapt to the energy transition. Woodside’s portfolio includes LNG, oil, gas, and new energy assets, and the company is working to diversify its offerings to include lower-carbon services such as carbon capture and storage (CCS) and carbon capture and utilization (CCU). The Louisiana LNG project, with its strategic location and significant capacity, supports this transition by providing a reliable source of energy while Woodside continues to invest in lower-carbon technologies.



The partnership between Woodside and Stonepeak is expected to close in the second quarter of 2025, subject to conditions precedent including the final investment decision for the Louisiana LNG foundation development, as well as requisite regulatory, legal, and other customary approvals. The transaction is a testament to the growing importance of LNG in the global energy market and the strategic advantages that partnerships can bring to major infrastructure projects. As the world continues to transition to lower-carbon energy sources, the Louisiana LNG project is poised to play a critical role in meeting the world’s growing energy needs while supporting the energy transition.