Stonepeak to acquire interest in Woodside’s Louisiana LNG
Under the transaction, Stonepeak will provide $5.7 billion towards the expected capital expenditure for the foundation development of Louisiana LNG on an accelerated basis
Stonepeak, an alternative investment firm specializing in infrastructure and real assets, has announced an agreement to acquire a 40% interest in Louisiana LNG Infrastructure LLC, a liquefied natural gas production and export terminal in Calcasieu Parish, Louisiana owned by Woodside Energy Group Ltd.
The Project, positioned in the heart of the Gulf Coast LNG corridor with close proximity to natural gas resources and direct access to the US Gulf, has a total permitted capacity of 27.6 million tonnes per annum and is nearing final investment decision (FID) for the foundation development. Construction is currently underway, and the front-end engineering design has been completed. Bechtel is the engineering, procurement, and construction (EPC) contractor for the Project. Woodside will continue to operate the Project following completion of the transaction.
“With the need to bring significant additional capacity online over the coming years, we have strong conviction in the critical role Louisiana LNG will play in the US LNG export market,” said James Wyper, Senior Managing Director and Head of US Private Equity at Stonepeak. “The Project represents a compelling opportunity to invest in a newbuild LNG export facility nearing FID approval with an attractive risk-return profile and best-in-class partners in both Bechtel and Woodside to construct and operate the asset.”
Woodside CEO Meg O’Neill said, “We are very pleased to have Stonepeak join us in Louisiana LNG, given their demonstrated track record investing in US gas and LNG infrastructure across LNG facilities, LNG carriers, and floating storage and regasification units. This transaction further confirms Louisiana LNG’s position as a globally attractive investment set to deliver long-term value to our shareholders. It is the result of a highly competitive process that attracted leading global counterparties and significantly reduces Woodside’s capital expenditure for this world-class project.”
The transaction is expected to close in the second quarter of 2025 subject to conditions precedent including final investment decision for the Louisiana LNG foundation development, as well as requisite regulatory, legal, and other customary approvals.
