Woodside Energy may keep up to 80% of Louisiana LNG project

Investing.com -- Woodside (OTC:WOPEY) Energy could retain as much as 80% of the holding company for its $17.5 billion Louisiana LNG project in the U.S. as it continues discussions with potential partners, including Saudi Arabian Oil Co., known as Aramco (TADAWUL:2222).

Chief Executive Meg O’Neill said in an interview that Woodside aims to sell 20%-30% of Louisiana LNG, which it acquired through the $900 million takeover of Tellurian (NYSE:TELL) last year. The company has been in negotiations for months and decided in April to approve construction of the project before finalizing any sell-down of the holding company.

"We’re in no rush," O’Neill stated. "We’ll be disciplined."

Woodside’s patient approach is partly due to an earlier $5.7 billion deal with Stonepeak, which purchased a 40% interest in the entity that owns infrastructure supporting Louisiana LNG. Under this agreement, Stonepeak’s contribution would come early, supporting 75% of capital expenditure on the project this year and in 2026.

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