US gas pipeline company Williams will acquire a 10pc stake in Australian independent Woodside Energy's 16.5mn t/yr Louisiana LNG (LLNG) plant, which is aiming for first output in 2029.
Williams will also take an 80pc share and operatorship of the 96-mile (154km) Driftwood pipeline for $250mn, Woodside said on 23 October. The transaction's effective date is 1 January 2025. Total proceeds of $378mn have been reported, including capital reimbursement, since January.
The deal represents capital and offtake commitments while bringing a strong strategic partner to the project, Woodside said. Williams will invest about $1.9bn in the pipeline and LNG facility and assume LNG offtake obligations for 10pc of produced volumes.
US-based investment firm Stonepeak earlier this year took a 40pc share in the terminal's infrastructure in return for a $5.7bn investment in LLNG, previously named Driftwood LNG under initial developer Tellurian, which Woodside purchased in mid-2024.
Woodside plans to spend $1bn-1.2bn on LLNG this year, with 1,000 workers on site and construction 19pc complete, it said in its July-September results on 22 October.
Trains 2 and 3 were 14pc and 12pc complete respectively and LNG tank vertical construction was underway as of 30 September.
