Written by Cortis Williams and Ron Boso
The CEO of Reuters said on Monday that Houston (Reuters) -Woodside may pay LNG in Australia a final investment decision at its Louisiana natural gas factory (LNG) in the second quarter of 2025, talking about selling half of the project.
Woodside wants to sell up to 50 % of the project. Reuters previously reported that the company is holding talks with many potential buyers including Tokyo Gas, Japan neighborhood and Aramco -backed energy.
“We want to make sure of confidence in the partners and that we have enough sale,” O’Neill said in an interview on the sidelines of a Houston Energy Conference.
“Look, it may slip to the second quarter, but our goal is to be ready from the first quarter.”
O’Neill refused to nominate the parties to the Wodeside.
Woodside had previously said that he would make an investment decision by the end of the first quarter of the construction of the first phase of the Mitri facility 27.6 million tons annually in Lake Charles, Louisiana. The cost of building the first stage is estimated at about $ 16 billion.
O’Neill said there is a strong interest in the project because it is fully allowed and has a purchase contract and engineering construction with Bechtel.
In the first phase of the project, Woodside will retain 8 million tons annually to develop the Atlantic Basin Trading portfolio as the company seeks to stay away from selling to direct customers, O’Neill said.
“So trading has become an increasingly important part of our business, but with the increase in the size of the portfolio, we see more opportunities to create a value from this part of the work,” O’Neill said.
Woodside has provided liquefied natural gas buyers with shorter decades at higher rates of infiltration agreements for a period of 20 years, which has long been a standard in industry. This provides opportunities for her company.
She said: “Some customers may prefer a shorter period, and this is a good thing for Woodside. In fact, in some ways, it opens the opportunity for us to find new clients with our progress in the path.”
“So we offer more flexibility. Once again, I think this is something that distinguishes us.”
She said Woodside will keep its agreements to purchase liquefied natural gas shipments from Commonwealth Lng and Mexico Pacific Lng. The two companies are developing LNG projects in Louisiana and Mexico to export American natural gas. O’Neill said that Woodside realizes that both projects are slowing down and focusing on his own project.
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