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Woodside in talks to sell Louisiana LNG stake to Kuwait Petroleum unit, Bloomberg News reports

Apr 29, 2025, 24:58 GMT+10
Woodside Energy is in talks with an overseas unit of Kuwait Petroleum to sell a stake in its Louisiana liquefied natural gas plant in the U.S., Bloomberg News reported on Monday, citing people with knowledge of the matter.

The overseas unit, Kuwait Foreign Petroleum Exploration, is also considering securing LNG supply from the project, the report said, adding that other companies are also interested for both equity and LNG supply.

Both Kuwait Foreign Petroleum Exploration and Woodside Energy did not immediately respond to Reuters requests for comment.

Earlier this month, Woodside, Australia's top gas producer, had agreed to sell a 40% stake in its Louisiana LNG plant to U.S. infrastructure investor Stonepeak for $5.7 billion.

The company had also entered a supply deal with German utility firm Uniper UN0 in April to supply 1 million tonnes of LNG per annum from the project.

Woodside bought Tellurian for $1.2 billion last year to develop the 27.6 million metric tons a year Louisiana LNG project, formerly called Driftwood, in four phases to meet growing demand for gas. The first phase is expected to cost about $16 billion.

In February, Reuters reported Woodside held talks with potential buyers for Louisiana LNG including Tokyo Gas 9531, Japan's JERA and Saudi Aramco-backed MidOcean Energy.