Global energy company Woodside has signed a revised engineering, procurement, and construction (EPC) contract with Bechtel in the US for the development of Louisiana LNG.
Bechtel has been working on the site since its acquisition and will continue under a revised EPC’s limited notice to proceed. Bechtel will now continue site construction.
Louisiana LNG will be comprised of three trains and have a capacity of 16.5 million tonnes per annum. Woodside is targeting final investment decision (FID) readiness from Q1 2025.
Woodside acquired the project through its $1.2bn acquisition of natural gas firm Tellurian and its Driftwood LNG project. As a first move, Woodside renamed the Driftwood LNG project to Woodside Louisiana LNG.
Read more: Woodside completes $1.2bn Tellurian acquisition; launches Woodside Louisiana LNG
Meg O’Neill, CEO of Woodside, described the news as an important step in the development of Louisiana LNG.
“We continue to move at pace. In a short period of time, we have completed the acquisition, secured competitive revised EPC pricing that covers all three trains, and opened the data room with strong interest from potential project partners.”
Total Louisiana LNG expenditure from December to end Q1 2025 is forecast to be up to $1.3bn, which is included in the overall estimated cost for the foundation development.
The estimates forward cost for the foundation development in $900-960/tonne, unchanged from the range at the time of the acquisition.
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