Aramco in Talks with Woodside Energy for Louisiana LNG Stake

SEATTLE (Oil Monster): Major Australian energy company Woodside Energy announced that it and Saudi oil tycoon Aramco have inked a deal to look at potential joint ventures on a natural gas project in Louisiana. Aramco may therefore invest in Woodside Energy's $17.5 billion project.

Woodside declared a favorable final investment decision (FID) on the project by the end of April this year. The first phase, which includes building three liquefaction trains with a combined capacity of 16.5 MMtpa, is covered under the FID. The construction process has already started. The development is completely licensed for a total capacity of 27.6 Mtpa and has the potential to expand for two more LNG trains.

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The Energy Department has previously granted the project permission to export a total of 27.6 million metric tons of LNG annually (MMtpa) to both FTA and non-FTA nations.

According to Woodside CEO Meg O'Neill, the partnership is in line with the business's strategic goal of creating a robust and varied international portfolio. It illustrates the company's expanding partnership with one of the top integrated energy and chemicals firms in the globe. He went on to say that both parties should benefit from the partnership.