Woodside in talks to sell Louisiana LNG (U.S.) stake to Kuwait Petroleum unit
Woodside Energy is in talks with an overseas unit of Kuwait Petroleum to sell a stake in its Louisiana liquefied natural gas plant (LNG) in the U.S., Bloomberg News reported on Monday, citing people with knowledge of the matter.
The overseas unit, Kuwait Foreign Petroleum Exploration, is also considering securing LNG supply from the project, the report said, adding that other companies are also interested for both equity and LNG supply.
Both Kuwait Foreign Petroleum Exploration and Woodside Energy did not immediately respond to requests for comment.
Earlier this month, Woodside, Australia's top gas producer, had agreed to sell a 40% stake in its Louisiana LNG plant to U.S. infrastructure investor Stonepeak for $5.7 B.
The company had also entered a supply deal with German utility firm Uniper in April to supply 1 metric MMtpy of LNG from the project.
Woodside bought Tellurian for $1.2 B last year to develop the 27.6-metric MMtpy Louisiana LNG project, formerly called Driftwood, in four phases to meet growing demand for gas. The first phase is expected to cost about $16 B.
In February, Woodside held talks with potential buyers for Louisiana LNG including Tokyo Gas, Japan's JERA and Saudi Aramco-backed MidOcean Energy.
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