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Woodside Energy (OTC:WOPEY), Australia’s leading natural gas producer, announced it has signed a non-binding agreement with Saudi Aramco (TADAWUL:2222) to explore strategic opportunities, including a potential equity investment in Woodside’s $17.5 billion Louisiana LNG project. The agreement reflects growing global interest in U.S. LNG assets amid surging demand from Europe and Asia.
The Louisiana project, which received final investment approval last month, is projected to deliver first gas by 2029. Woodside is betting on favorable returns driven by robust international LNG demand and the supportive energy stance of the current U.S. administration.
In April, Woodside sold a 40% stake in the project to U.S. infrastructure investor Stonepeak for $5.7 billion. The company is now looking to divest an additional 20% to 30% equity to attract more strategic partners. CEO Meg O’Neill said the Aramco agreement highlights continued interest in the project from top-tier investors.
Alongside the stake discussions, Woodside and Aramco are also evaluating LNG offtake deals and potential collaboration in lower-carbon ammonia projects—reflecting both companies’ long-term decarbonization strategies.
This development strengthens Woodside’s global LNG portfolio and could mark Aramco’s first major U.S. gas infrastructure investment, reinforcing the Gulf giant’s diversification efforts. The project’s scale and timing align with forecasts for a tight LNG market through the decade, enhancing its global relevance.
As competition for LNG capacity grows, the Louisiana facility’s strategic location and strong investor interest position it as a key asset in meeting future energy needs across the Atlantic and Pacific markets. The partnership discussions also signal Aramco’s broader push into global gas and low-carbon solutions.
