Woodside Energy to sell further 20–30% stake in its Louisiana LNG project
Woodside Energy, Australia's leading natural gas producer, has announced its intention to sell an additional 20–30% stake in the Louisiana LNG project.
The move follows final approval of the $17.5bn initiative last week, which has since sparked increased interest, reported Reuters.
Liz Westcott, chief operating officer for Australia at Woodside, stated that the sell-down of the company's wholly owned holding company for the project would help achieve its target of maintaining a 50% stake.
'Our goal will be to sell down in the order of 20–30% of Hold Co. That will give us a targeted investment capital of around 50%,' she conveyed at the Macquarie Australia Conference.
The final investment decision for Louisiana LNG was made against the backdrop of a supportive US administration and demand from Europe and Asia, with the company expecting a 13% internal rate of return and a seven-year payback period.
The project is scheduled to deliver first gas in 2029 and is projected to generate around $2bn in annual net operating cash in the 2030s.
Woodside's approval came on the heels of an agreement to divest a 40% stake in the project's infrastructure company to Stonepeak, which will contribute $5.7bn towards the capital costs.
The interest in partnerships has grown since the project's approval, with Westcott noting the company's approach to securing the right partners while also progressing the project.
'We are going to be patient and make sure we get the right parties, but we are also keen to move along as well,' Wescott added.
The Louisiana LNG project, which includes three trains with a combined capacity of 16.5 million tonnes per annum (mtpa), is a significant venture for Woodside.
It is expected to boost the company's global LNG supply capacity to approximately 24mtpa in the 2030s, representing more than 5% of the global LNG supply.
"Woodside Energy to sell further 20–30% stake in its Louisiana LNG project" was originally created and published by Offshore Technology, a GlobalData owned brand.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a day ago
- Yahoo
ASX slips after Trump/Musk stoush
Cautious investors sold down the ASX on a quiet day of trading on Friday, despite the US and China resuming trade talks, as markets await critical jobs data out of the US. The benchmark ASX 200 index slipped for the second consecutive day of trading falling by 23.20 points or 0.27 per cent to 8,515.70. The ASX200 has now recorded four consecutive weekly gains. The broader All Ordinaries fell during Friday's trading, down 26.70 points or 0.30 power cent to 8,741.90. The Australian dollar also is down 0.21 per cent and is now buying 64.95 US cents. On an overall bleak day on the market, nine of the 11 sectors finished in the red with just energy, industrials and utilities gaining ground. Woodside Energy gained 0.97 per cent to $22.94, while Santos is up 0.61 per cent to $6.58 as the price of Brent crude oil continues to recover over the week's trading. Industrials also had a strong day led by Qantas Airways which jumped 3.46 per cent to $10.76 despite the news Virgin Australia is looking to re-list. Transurban shares also rose 0.63 per cent to $14.38, and Computershares Limited rose 0.83 per cent to $41.08. CBA shares slipped from its record highs down 0.79 per cent to $179.90, Westpac fell 0.24 per cent to $33.18 and ANZ traded 0.44 per cent lower to $29.50. NAB was the only big four bank to finish in the eking out a 0.18 per cent gain and to close Friday's trading at $38.58. eToro market analyst Josh Gilbert said initially there was optimism on the markets following 'very good' trade talks between Washington and Beijing. But this quickly changed after a public spat between former friends President Donald Trump and Tesla chief executive Elon Musk. 'This will provide a hit to overall market sentiment, particularly tech, but may not be long-lasting for anyone other than Tesla,' Mr Gilbert said. The overall lower volumes on the ASX comes as investors await the latest payroll data out of the US. 'The uncertain macro backdrop continues to provide a hurdle for risk-on sentiment, and cooling US economic data is leaving investors unassured,' Mr Gilbert said. 'With the labour market heavily in focus, the print this evening will be essential for market direction.' Mr Gilbert said negative economic data released throughout the week could actually help drive the ASX 200 higher. 'The weaker-than-expected GDP data this week also drives the expectation for further rate cuts, further supporting the market optimism,' he said. In corporate news, Worley shares fell 0.46 per cent to $13.08 despite the business announcing it had won a contract with Glenfarne to help support engineering work on its Alaska LNG pipeline. Shares in gold miner West Cobar Metals soared 60 per cent to $0.024 after announcing it has completed the acquisition of the Mystique Gold Project in Fraser Range, Western Australia. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
2 days ago
- Yahoo
Filament Syfter Raises $4.8 Million in Series A Funding Round Led by FINTOP Capital
NEW YORK & LONDON, June 05, 2025--(BUSINESS WIRE)--Filament Syfter, the leading AI-enabled data engine purpose-built for private market dealmakers, has raised up to $4.8M in a Series A funding round led by FINTOP Capital. The investment will be used to scale Filament Syfter's operations as it expands its presence globally in the private equity and investment banking industries. The capital infusion will also accelerate product innovation, enhancing Filament Syfter's unique proposition for private markets firms. Filament Syfter operationalizes a private equity or investment banking firms' vast data ecosystem. This enables firms to source more relevant deals and creates a higher return-on-investment for all systems in the firm's technology stack. World class firms including Astorg, Inflexion and Cavendish have deployed Filament Syfter, demonstrating their leadership in adopting AI technology. The company was founded by Phil Westcott, former European Director of IBM Watson. There, he drove early adoption of AI in financial services firms. Having assembled a world-class team of data engineers, natural language processing (NLP) and machine learning (ML) professionals, Westcott recognized the challenges many firms experienced when trying to deploy AI for their own deal sourcing and market coverage purposes. Filament Syfter was then created with the aim of enabling private markets to curate and train their own AI assets. "Having FINTOP's investment, financial services industry specialization and operational leadership will undoubtedly enable Filament Syfter to scale worldwide. Given their track record investing in best-of-breed technology for dealmakers, we are thrilled to have their endorsement," said Phil Westcott, Founder and CEO of Filament Syfter. "Most firms have spent precious time and resources deploying CRMs and other technologies over the past decade but still lack the ability to harmonize and enrich their data ecosystem at scale," said Rick Kushel, Managing Partner at FINTOP Capital. "Filament Syfter is filling that gap." FINTOP's Chris Haley (Partner) and Max Haskin (Principal) will join Filament Syfter's Board of Directors. To learn more about Filament Syfter, visit: About Filament SyfterFilament Syfter is the leading AI-enabled data engine purpose-built for private market dealmakers. The technology enables firms to centralize, enrich and institutionalize market and proprietary data in a way that increases dealmaking efficacy, improves resource allocation, enhances relationships, and originates the best fit deals. To schedule a demo, visit About FINTOP CapitalFINTOP Capital is a venture capital firm focused on early-stage fintech companies. With over $700 million in committed capital across five funds, FINTOP brings decades of fintech founding and operating experience to the boardroom, partnering with innovative entrepreneurs to push the frontiers of the financial services sector. For more information, visit View source version on Contacts Media Kari Hughes774-888-7721kari@ Sign in to access your portfolio
Yahoo
2 days ago
- Yahoo
Filament Syfter Raises $4.8 Million in Series A Funding Round Led by FINTOP Capital
NEW YORK & LONDON, June 05, 2025--(BUSINESS WIRE)--Filament Syfter, the leading AI-enabled data engine purpose-built for private market dealmakers, has raised up to $4.8M in a Series A funding round led by FINTOP Capital. The investment will be used to scale Filament Syfter's operations as it expands its presence globally in the private equity and investment banking industries. The capital infusion will also accelerate product innovation, enhancing Filament Syfter's unique proposition for private markets firms. Filament Syfter operationalizes a private equity or investment banking firms' vast data ecosystem. This enables firms to source more relevant deals and creates a higher return-on-investment for all systems in the firm's technology stack. World class firms including Astorg, Inflexion and Cavendish have deployed Filament Syfter, demonstrating their leadership in adopting AI technology. The company was founded by Phil Westcott, former European Director of IBM Watson. There, he drove early adoption of AI in financial services firms. Having assembled a world-class team of data engineers, natural language processing (NLP) and machine learning (ML) professionals, Westcott recognized the challenges many firms experienced when trying to deploy AI for their own deal sourcing and market coverage purposes. Filament Syfter was then created with the aim of enabling private markets to curate and train their own AI assets. "Having FINTOP's investment, financial services industry specialization and operational leadership will undoubtedly enable Filament Syfter to scale worldwide. Given their track record investing in best-of-breed technology for dealmakers, we are thrilled to have their endorsement," said Phil Westcott, Founder and CEO of Filament Syfter. "Most firms have spent precious time and resources deploying CRMs and other technologies over the past decade but still lack the ability to harmonize and enrich their data ecosystem at scale," said Rick Kushel, Managing Partner at FINTOP Capital. "Filament Syfter is filling that gap." FINTOP's Chris Haley (Partner) and Max Haskin (Principal) will join Filament Syfter's Board of Directors. To learn more about Filament Syfter, visit: About Filament SyfterFilament Syfter is the leading AI-enabled data engine purpose-built for private market dealmakers. The technology enables firms to centralize, enrich and institutionalize market and proprietary data in a way that increases dealmaking efficacy, improves resource allocation, enhances relationships, and originates the best fit deals. To schedule a demo, visit About FINTOP CapitalFINTOP Capital is a venture capital firm focused on early-stage fintech companies. With over $700 million in committed capital across five funds, FINTOP brings decades of fintech founding and operating experience to the boardroom, partnering with innovative entrepreneurs to push the frontiers of the financial services sector. For more information, visit View source version on Contacts Media Kari Hughes774-888-7721kari@
