WDS Analysis: Woodside Announces Louisiana LNG Partnership with Williams

Event: Woodside Announces Louisiana LNG Partnership with Williams | Date: 2025-10-23 | Source: Woodside Energy Investor Centre

Woodside Seals Louisiana LNG Deal with Williams, Slashing Capex by $1.9bn

Woodside Energy Group announced a strategic partnership with The Williams Companies for its Louisiana LNG project on 23 October 2025, selling a 10% interest in the holding company and an 80% stake in the pipeline company for a total consideration of $250 million effective from 1 January 2025. The deal reduces Woodside's net capital expenditure for the project from $11.8 billion to $9.9 billion, while Williams commits to 1.6 million tonnes per annum of offtake capacity starting in 2029. First LNG production remains targeted for 2029, with the project expected to deliver 5.2 million tonnes per annum at steady state. This follows Woodside's earlier sell-down of a 40% infrastructure stake to Stonepeak in August 2025, further optimizing the capital structure. The announcement was released via the ASX and detailed in the company's investor update.