Woodside attains approval for $27 billion Louisiana LNG plant
Woodside Chief Executive Meg O’Neill discusses the approval of a $27 billion liquified natural gas project on the Gulf Coast of Louisiana.
This comes after Woodside’s purchase of the gas project for $1.2 billion with co-investor Stonepeak.
“As we’ve looked around the world, we’ve asked ourselves what are the sorts of opportunities that we ought to be pursuing to ensure that we can deliver value for shareholders, not just this quarter, but decades into the future,” Ms O’Neill said.
“That led us to the Tellurian acquisition, which we concluded last year, which gave us access to a fully permitted site, permitted for 27.6 million tonnes of liquified natural gas, and just to calibrate that’s the size of our northwest shelf project, plus our Pluto project, plus Pluto train 2.
“So, it is a massive opportunity to build an LNG footprint in the United States mirroring what we’ve done here in Australia – the returns are compelling, 13 per cent internal rate of return, seven-year payback period.”
