Woodside Energy secures Uniper LNG deal as Louisiana project...

Woodside Energy secures Uniper LNG deal as Louisiana project gains momentum

Leading Australian energy company Woodside Energy is continuing to gain value from its investment in the Louisiana LNG project in the US. Just days after it revealed it had entered into a binding agreement that would see that leading global investment firm Stonepeak provide $5.7 billion towards the project’s accelerated development, Woodside has signed LNG sale and purchase agreements with European energy company Uniper.

The Dutch company is purchasing 1 million tonnes of LNG per annum from Louisiana and up to the same amount elswewhere across the company’s global portfolio. Important milestone Woodside chief executive officer Meg O’Neill said the Uniper agreements were an important milestone as Louisiana LNG moves towards a final investment decision. “Uniper’s commitment speaks volumes about Woodside’s track record as a trusted LNG provider, built on decades of delivering reliable and flexible supply solutions for our global partners,” Ms O’Neill said. Ms O’Neill said Uniper – a leading supplier to the European energy market – was an ideal counterparty, building on Woodside’s existing offtake arrangements.

Largest growth project “Louisiana LNG is Woodside’s largest growth project—it leverages the robust US gas resource, an outstanding site, best-in-class EPC and technology partners and Woodside’s track record of successful project delivery.” “The addition of Atlantic Basin LNG supply to our established position in the Pacific strengthens Woodside’s portfolio and allows us to tailor contract structures based on various price indices and tenures to better meet our customers’ diverse needs.”

“As we continue to progress sell-down opportunities for Louisiana LNG, these agreements reinforce the project’s unique advantages and its economic competitiveness.” Bechtel EPC contract Woodside signed a revised lump-sum turnkey engineering, procurement and construction (EPC) contract with Bechtel in December 2024 for the three-train, 16.5Mtpa foundation development of Louisiana LNG. Woodside had forecast total Louisiana LNG expenditure of up to $1.3 billion from December to the end of the first quarter of 2025.

“In an environment of increasing demand for dependable sources of LNG, particularly in Europe, we remain focused on delivering reliable energy supply that will benefit our partners and stakeholders for years to come.”