Woodside, Tokyo Gas in Talks to Acquire Stake in U.S. LNG Project

SEATTLE (Oil Monster):  Australian oil and gas producer Woodside Energy and Tokyo Gas Natural Resources are reportedly in discussions over acquiring a stake in a multi-billion-dollar Louisiana liquefied natural gas (LNG) export project. The talks are in progress and there is no guarantee that it will end in successful acquisition, sources said.

Woodside Energy said that it is currently seeking equity partners to acquire minority stakes in the Louisiana LNG export project. The company has received multiple expressions of interest from various parties, according to Meg O'Neill, Chief Executive Officer.

The company hopes to give a financial approval to the Louisiana LNG project by the end of Q1 next year. The construction activities at the site are already underway. The deadline towards completion of construction works was recently extended by the U.S. authorities until April 2029.

An acquisition of stake is part of Tokyo Gas’s previously announced strategy of securing gas supply from the U.S. The company aims to create a U.S. gas value chain by linking its projects, said Shinichi Sasayama, President, Tokyo Gas.

Woodside Energy recently acquired Tellurian Inc. in a $1.2 billion deal. Similarly, Tokyo Gas acquired rival gas producer Rockcliff Energy for $2.7 billion late last year, making it one of the largest shale gas producers in the Haynesville shale region.