Australia’s Woodside Energy aims to bring several partners on board for its Louisiana liquefied natural gas (LNG) project by the first quarter of 2025, reported Reuters, citing CEO Meg O'Neill.

The company is looking to sell a 50% stake in the project, which it fully owns after acquiring Tellurian for $1.2bn in October.

The US Gulf Coast facility has the capacity to convert US shale gas into up to 27.7 million tonnes per annum of LNG.

Woodside has engaged in talks with US natural gas producers, traditional LNG buyers seeking equity stakes and LNG supplies, as well as infrastructure-focused investors looking for long-term, stable revenue.

O'Neill stated: “Announcements on new partners in the projects would be 'concurrent with the FID at the latest.

“The goal is to put together a dream team where everybody in the partnership brings something of value. It might be an understanding of the onshore gas market; it might be infrastructure capital and LNG offtake and marketing expertise.”

Although specific companies were not named, reports suggest discussions with Tokyo Gas are under way.

O'Neill expressed confidence in Woodside's ability to finance its share of development costs from its balance sheet.

The company plans to secure natural gas supplies after the FID, with production expected to commence in 2028.

The project's estimated cost is between $900 and $960 per tonne of LNG, following a renegotiation of the development contract with service company Bechtel, according to O'Neill.

“There are some inflationary pressures, both in the supply chain and the labour market,” she said.

In September 2024, Woodside announced that it is in discussions with potential partners for its Driftwood LNG project, with the goal of securing a stable gas supply and increasing revenues for US gas producers.