Woodside Energy (ASX: WDS) has solidified its position in the global LNG market by entering into a sale and purchase agreement with Uniper, a major European energy company. The agreement entails Uniper purchasing 1 million tonnes of LNG per annum from Woodside’s Louisiana LNG project, with the potential for an additional 1 million tonnes from Woodside’s global portfolio. This deal comes shortly after Stonepeak’s $5.7 billion investment in the Louisiana LNG project, accelerating its development.
Woodside CEO Meg O’Neill highlighted the agreement as a significant step towards a final investment decision for Louisiana LNG. She emphasized Uniper’s status as an ideal counterparty, reinforcing Woodside’s ability to deliver flexible LNG solutions. The Louisiana LNG project, Woodside’s largest growth initiative, benefits from robust US gas resources and strategic partnerships. The project’s development is proceeding under a revised EPC contract with Bechtel, with Woodside projecting expenditures of up to $1.3 billion through Q1 2025. This move aligns with increasing global demand for reliable LNG sources, particularly in Europe, enhancing Woodside’s portfolio and market competitiveness.
