Woodside has signed a revised lump sum turnkey engineering,
procurement and construction (EPC) contract with Bechtel for the
development of the three train 16.5 million tonnes per annum
foundation development of Louisiana LNG.
Bechtel has worked on site since the acquisition and will
continue work under a limited notice to proceed (LNTP) executed
under the revised EPC contract. The LNTP provides for continued
site construction and commitment to certain key materials and
services required for the foundation project.
Woodside CEO Meg O’Neill said the signing of the EPC contract
and continuation of engineering and construction activities
contemplated by the LNTP represented an important step in the
development of Louisiana LNG.
“Louisiana LNG is positioned to provide LNG into the growing
global market and generate value for shareholders in accordance
with our capital allocation framework.
“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.
“Louisiana LNG is an advantaged project that is fully permitted
and has Bechtel as the EPC contractor. The competitive pricing and
schedule certainty we have now secured compounds this advantage in
the current uncertain market environment for competing
projects.”
Woodside continues to target final investment decision (FID)
readiness from the first quarter of 2025.
Total Louisiana LNG expenditure from December to end of the
first quarter of 2025 is forecast to be up to $1.3 billion, which
is included in the overall estimated cost for the foundation
development.
The estimated forward cost for the foundation development is
$900-960/tonne, unchanged from the range at the time of
acquisition.1
__________________
1
Includes EPC, contractor completion
incentive payments, owner’s costs, and contingency; excludes
pipeline cost.
About Louisiana LNG
Louisiana LNG is an under-construction, pre-FID, LNG production
facility and export terminal in Calcasieu Parish, Louisiana. It is
a high-quality, scalable development opportunity, with a total
permitted capacity of 27.6 million tonnes per annum.
Louisiana LNG is a major growth opportunity that would expand
Woodside’s US LNG position, enabling the company to better serve
global customers and capture marketing optimisation opportunities
across the Atlantic and Pacific Basins.
This announcement was approved and
authorised for release by Woodside’s Disclosure Committee.
Forward-looking statements
This announcement contains forward-looking statements with
respect to Woodside's business and operations, market conditions,
results of operations and financial condition, including, for
example, but not limited to, statements regarding the timing of
completion of other transactions, the timing of completion of
Woodside's projects and expectations regarding future expenditures
and future results of projects. All statements, other than
statements of historical or present facts, are forward-looking
statements and generally may be identified by the use of
forward-looking words such as 'guidance', 'foresee', 'likely',
'potential', 'anticipate', 'believe', 'aim', ‘aspire’, 'estimate',
'expect', 'intend', 'may', 'target', 'plan', 'forecast', ‘outlook’,
'project', 'schedule', 'will', 'should', 'seek' and other similar
words or expressions. Similarly, statements that describe the
objectives, plans, goals or expectations of Woodside are
forward-looking statements.
Forward-looking statements in this announcement are not
guidance, forecasts, guarantees or predictions of future events or
performance, but are in the nature of future expectations that are
based on management’s current expectations and assumptions. Those
statements and any assumptions on which they are based are subject
to change without notice and are subject to inherent known and
unknown risks, uncertainties, assumptions and other factors, many
of which are beyond the control of Woodside, its related bodies
corporate and their respective officers, directors, employees,
advisers or representatives. If any of the assumptions on which a
forward-looking statement is based were to change or be found to be
incorrect, this would likely cause outcomes to differ from the
statements made in this announcement.
A detailed summary of the key risks relating to Woodside and its
business can be found in the "Risk" section of Woodside's most
recent Annual Report released to the Australian Securities Exchange
and in Woodside's most recent Annual Report on Form 20-F filed with
the United States Securities and Exchange Commission and available
on the Woodside website at
https://www.woodside.com/investors/reports-investor-briefings. You
should review and have regard to these risks when considering the
information contained in this announcement.
All information included in this announcement, including any
forward-looking statements, reflects Woodside’s views held as at
the date of this announcement and, except as required by law or
regulation, neither Woodside, its related bodies corporate, nor any
of their respective officers, directors, employees, advisers or
representatives intends to, undertakes to, or assumes any
obligation to, provide any additional information or update or
revise any information or forward-looking statements in this
announcement after the date of this announcement, either to make
them conform to actual results or as a result of new information,
future events, changes in Woodside’s expectations or otherwise.
Investors are strongly cautioned not to place undue reliance on
any forward-looking statements. Actual results or performance may
vary materially from those expressed in, or implied by, any
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20241204245574/en/
INVESTORS Marcela Louzada M: +61 456 994 243 E:
investor@woodside.com
MEDIA Christine Forster M: +61 484 112 469 E:
christine.forster@woodside.com
Woodside Energy (NYSE:WDS)
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