Estefany Ariza
Woodside Energy signed a revised lump sum turnkey EPC contract with Bechtel that
marks a crucial step in advancing the Louisiana LNG project, focusing on the
development of three LNG trains with a combined production capacity of 16.5 million
tonnes per annum. This agreement not only solidifies the foundation of the project
but also ensures efficient execution through Bechtel’s continued involvement under a
limited notice to proceed (LNTP).
The company remains focused on achieving a final investment decision (FID) by the
first quarter of 2025, with projected expenditures of up to $1.3 billion through that
period. The forward cost for the foundation development remains steady at $900-960
per tonne, reaffirming the project’s financial stability. With construction progressing
under Bechtel’s expertise, Louisiana LNG is set to strengthen Woodside’s position in
the global LNG market.
Woodside CEO Meg O’Neill highlighted the strategic importance of the Louisiana
LNG development, emphasizing its potential to meet growing global LNG demand
while generating value for shareholders. “Louisiana LNG is an advantaged project
that is fully permitted and has Bechtel as the EPC contractor. The competitive pricing
and schedule certainty we have now secured compounds this advantage in the
current uncertain market environment for competing projects”, said O’Neill in the
announcement released by the company. By maintaining progress on site
construction and securing essential materials and services, the contract positions
Louisiana LNG to meet increasing global energy demands with robust and reliable
production capabilities.
