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According to a statement by Woodside on Wednesday, the two firms entered into a non-binding collaboration agreement to explore global opportunities, including Aramco’s potential acquisition of an equity interest in and LNG offtake from the Louisiana LNG project.
Additionally, both companies are exploring opportunities for a potential collaboration in “lower-carbon ammonia,” Woodside said.
The collaboration agreement was signed in Riyadh at the Saudi-US Investment Forum attended by Saudi Arabian Prime Minister Mohammed bin Salman and US President Donald Trump.
Woodside did not provide further information regarding the agreement.
“This collaboration aligns with Woodside’s strategic vision to build a diverse and resilient global portfolio. It leverages our growing relationship with one of the world’s leading integrated energy and chemicals companies, to explore new opportunities which deliver value for both parties,” Woodside CEO Meg O’Neill said.
“It is also another demonstration of the ongoing interest Louisiana LNG is generating among high quality potential investors, following our recent agreement with Stonepeak to acquire a 40 percent interest in the project’s infrastructure holding company,” she said.
$17.5 billion
In April, Woodside made a final investment decision to develop the three-train, 16.5 mtpa Louisiana LNG project.
The total capital expenditure for the LNG project, pipeline, and management reserve is $17.5 billion.
Woodside is targeting its first LNG in 2029.
Woodside said the forecast total capital expenditure for the LNG project, pipeline, and management reserve is $17.5 billion.
US private equity firm Stonepeak, as an investor in Louisiana LNG Infrastructure LLC, will provide $5.7 billion towards the expected capital expenditure for the LNG project on an accelerated basis, contributing 75 percent of capital expenditure in both 2025 and 2026.
Woodside’s share of the forecast total capital expenditure is $11.8 billion.
The company previously said it aims to sell about 50 percent of Louisiana LNG equity.