SINGAPORE (Reuters) – Australia’s Woodside (OTC:) Power Group stated on Thursday it has signed an engineering, procurement and building (EPC) contract with U.S. engineering agency Bechtel to develop the Louisiana liquefied (LNG) undertaking.
The EPC contract will cowl the inspiration growth for the undertaking’s three manufacturing trains, with a capability of 16.5 million tons every year.
The oil and fuel producer additionally acknowledged that it goals to make the ultimate funding resolution (FID) by the primary quarter of 2025.
“ Complete (EPA:) 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 general estimated value for the inspiration growth,” Woodside stated in an announcement.
The estimated value for the undertaking’s basis growth is $900-$960 per ton of LNG, unchanged from the vary on the time of its acquisition.
Woodside absolutely owns the Louisiana LNG undertaking after its $1.2 billion acquisition of developer Tellurian (NYSE:) Inc in October. It’s searching for to promote a 50% stake within the undertaking.
The undertaking has a complete permitted capability of 27.6 million tons every year.