Woodside in talks to sell Louisiana LNG stake to Kuwait Petroleum unit, Bloomberg News reports

Reuters

Mon, Apr 28, 2025, 8:16 AM 1 min read

(Reuters) -Woodside Energy is successful talks with an overseas portion of Kuwait Petroleum to merchantability a involvement successful its Louisiana liquefied earthy state works successful the U.S., Bloomberg News reported connected Monday, citing radical with cognition of the matter.

The overseas unit, Kuwait Foreign Petroleum Exploration, is besides considering securing LNG proviso from the project, the study said, adding that different companies are besides funny for some equity and LNG supply.

Both Kuwait Foreign Petroleum Exploration and Woodside Energy did not instantly respond to Reuters requests for comment.

Earlier this month, Woodside, Australia's apical state producer, had agreed to merchantability a 40% involvement successful its Louisiana LNG works to U.S. infrastructure capitalist Stonepeak for $5.7 billion.

The institution had besides entered a proviso woody with German inferior steadfast Uniper successful April to proviso 1 cardinal tonnes of LNG per annum from the project.

Woodside bought Tellurian for $1.2 cardinal past twelvemonth to make the 27.6 cardinal metric tons a twelvemonth Louisiana LNG project, formerly called Driftwood, successful 4 phases to conscionable increasing request for gas. The archetypal signifier is expected to outgo astir $16 billion.

In February, Reuters reported Woodside held talks with imaginable buyers for Louisiana LNG including Tokyo Gas, Japan's JERA and Saudi Aramco-backed MidOcean Energy.

(Reporting by John Biju successful Bengaluru; Editing by Arun Koyyur)