Williams Acquires Stakes in Woodside Louisiana LNG, Invests $1.9B

Woodside Energy has entered a strategic partnership with Williams, selling a 10% stake in Louisiana LNG LLC and an 80% stake plus operatorship of Driftwood Pipeline LLC to Williams for $250 million, with total proceeds of $378 million including capital reimbursement. Williams will invest approximately $1.9 billion in capital expenditure for the LNG facility and pipeline, and will assume LNG offtake obligations for 10% of produced volumes, roughly 1.6 million tonnes per annum. This deal reduces Woodside's capital expenditure for the Louisiana LNG project from $11.8 billion to $9.9 billion and leverages Williams' expertise in US natural gas infrastructure and its Sequent Energy Management platform. Williams will operate the Line 200 pipeline to the Louisiana LNG terminal, expanding its US pipeline footprint, while Woodside retains 90% ownership of the LNG facility and 20% of the pipeline. The Louisiana LNG project remains fully permitted with a combined capacity of 27.6 Mtpa across five trains and targets first LNG exports in 2029. Woodside aims to deliver long-term value by combining Williams' operational capabilities with its own project development efforts.