Woodside bought the former Driftwood LNG project as part of its acquisition of Tellurian for $1.2 billion last year. The deal “adds a scalable US LNG development opportunity to our existing approximately 10 Mtpa of equity LNG in Australia,” Woodside chief executive Meg O’Neill said at the time. Then, this year, reports emerged that Woodside was looking for partners in the projects, seeking to sell up to 50% of the ownership.
Australia’s Woodside Energy will sell a 40% stake in the Louisiana LNG complex to global investment firm Stonepeak for USD 5.7 billion, the company said on Monday.
The move is meant to reduce the Perth-headquartered company’s capex and support the project’s progress towards a final investment decision.
Woodside has entered into a binding agreement with Stonepeak, a leading global investment firm specializing in infrastructure and real assets, for the sale of a 40% interest in Louisiana LNG Infrastructure LLC, providing validation of project quality and increasing attractiveness of the project to other potential equity partners.
The low pressure weather system is bringing bitter cold from Texas to North Carolina, causing disruptions to passenger rail travel and airline flights throughout the region as snow sweeps across the US South.