Australia’s Woodside indicators take care of Bechtel to develop Louisiana LNG mission

SINGAPORE (Reuters) – Australia’s Woodside (OTC:WOPEY) Vitality Group mentioned on Thursday it has signed an engineering, procurement and building (EPC) contract with U.S. engineering agency Bechtel to develop the Louisiana liquefied pure fuel (LNG) mission.

The EPC contract will cowl the muse improvement for the mission’s three manufacturing trains, with a capability of 16.5 million tons each year.

The oil and fuel producer additionally said that it goals to make the ultimate funding determination (FID) by the primary quarter of 2025.

“ Complete (EPA:TTEF) Louisiana LNG expenditure from December to the top of the primary quarter of 2025 is forecast to be as much as $1.3 billion, which is included within the total estimated value for the muse improvement,” Woodside mentioned in an announcement.

The estimated value for the mission’s basis improvement is $900-$960 per ton of LNG, unchanged from the vary on the time of its acquisition.

Woodside totally owns the Louisiana LNG mission after its $1.2 billion acquisition of developer Tellurian (NYSE:TELL) Inc in October. It’s searching for to promote a 50% stake within the mission.

The mission has a complete permitted capability of 27.6 million tons each year.