Woodside, a company from Australia, signs a deal with Bechtel for the development of Louisiana LNG.

Woodside Energy Group, an Australian company, announced on Thursday that it had signed a contract for engineering procurement and construction with Bechtel in the United States to develop liquefied gas project in Louisiana.

The EPC contract covers the development of the foundations for the three production trains in the project, which have a combined capacity of 16,5 million tons per year.

The oil and natural gas producer stated that they aim to make a final investment decision by the first quarter 2025.

Woodside released a statement that said "Total Louisiana LNG expenses from December until the end of first quarter 2025 are forecast to be as high as $1.3 billion. This is included in the estimated cost of foundation development."

The cost of the foundation is estimated to be $900-$960 for each ton of LNG. This range was unchanged at the time the project was acquired.

Woodside now owns Louisiana LNG in full after acquiring Tellurian Inc. for $1.2 billion last October. It wants to sell 50% of the project.

The project is permitted to produce 27,6 million tonnes per year.

(source: Reuters)