Woodside and Aramco sign agreement to explore Louisiana LNG partnership
Woodside Energy and Saudi energy giant Aramco have entered into a non-binding collaboration agreement to explore various global opportunities, including Aramco's potential acquisition of an equity stake in Woodside's Louisiana LNG project.
The agreement, signed in Riyadh at the Saudi-US Investment Forum attended by Saudi Arabian Crown Prince Mohammed bin Salman and US President Donald Trump, also opens avenues for LNG offtake arrangements and potential collaboration in lower-carbon ammonia production.
Woodside's Chief Executive, Meg O'Neill, expressed enthusiasm about the new partnership, stating it "aligns with Woodside's strategic vision to build a diverse and resilient global portfolio" while leveraging the relationship with "one of the world's leading integrated energy and chemicals companies".
The collaboration comes just weeks after Woodside reached its final investment decision on the massive $17.5 billion Louisiana LNG development. The project is scheduled to deliver first gas in 2029 and will have a production capacity of 16.5 million tonnes per annum across three LNG trains.
O'Neill highlighted that the Aramco agreement demonstrates "ongoing interest Louisiana LNG is generating among high-quality potential investors", following Woodside's recent agreement with US infrastructure investor Stonepeak to acquire a 40% interest in the project for $5.7 billion.
Australia's largest gas producer is reportedly seeking to sell a further 20-30% stake in the Louisiana development, as it continues to diversify its global energy portfolio while maintaining its commitment to operational excellence and disciplined investment approach.
