Latest news with #ScarboroughEnergyProject
American Press
25-06-2025
- Business
- American Press
Woodside completes sell-down of Calcasieu LNG facility to Stonepeak
Louisiana LNG is a fully permitted LNG project located near Lake Charles with total permitted capacity of 27.6 million tonnes per annum (Mtpa) across five trains. (Special to the American Press) Woodside Louisiana — an under-construction, LNG production and export terminal in Calcasieu Parish — announced Tuesday that it has completed the sell-down of a 40% interest in its Lake Charles facility to Stonepeak. Under the transaction — first announced on April 7 — Stonepeak will provide $5.7 billion towards the expected capital expenditure for the foundation development of Louisiana LNG on an accelerated basis, contributing 75% of project capital expenditure in both 2025 and 2026. The closing payment of about $1.9 billion received by Woodside reflects Stonepeak's 75% share of capex funding incurred since Jan 1. Woodside CEO Meg O'Neill said Stonepeak would add further value to the Louisiana LNG Project. 'Our partnership with Stonepeak reflects the attractiveness of Louisiana LNG and was a key milestone towards achieving a successful final investment decision,' she said. 'The accelerated capital contribution from Stonepeak enhances Louisiana LNG project returns and strengthens our capacity for shareholder returns ahead of first cargo from the Scarborough Energy Project in Western Australia, targeted for the second half of 2026.' Louisiana LNG is a fully permitted LNG project with total permitted capacity of 27.6 million tonnes per annum (Mtpa) across five trains. The approved foundation project includes three trains with a combined capacity of 16.5 Mtpa and achieved a successful final investment decision in April 2025.
Yahoo
25-06-2025
- Business
- Yahoo
Woodside closes 40% stake sale in Louisiana LNG project
Australia-based Woodside Energy has completed the sale of a 40% interest in its Louisiana LNG project to global investment firm Stonepeak. The deal marks a strategic move to enhance the project's economics and bolster Woodside's capacity for shareholder returns. Stonepeak senior managing director and US Private Equity head James Wyper said: 'Louisiana LNG will be a timely and strategic addition to the US LNG [liquefied natural gas] export landscape as the world's demand for cleaner, more flexible and more affordable energy continues to grow. 'We look forward to contributing our expertise and capital to the construction and future operation of Louisiana LNG and are highly energised to continue supporting the development of critical North American LNG infrastructure with global impact.' The binding agreement, first announced on 7 April 2025, has now reached fruition with Stonepeak committing $5.7bn towards the project's capital expenditure (capex). This investment will cover 75% of the project's costs in both 2025 and 2026, accelerating its development. Woodside has received a closing payment of around $1.9bn, reflecting Stonepeak's share of capex since the deal's effective date of 1 January 2025. Woodside CEO Meg O'Neill said: 'Our partnership with Stonepeak reflects the attractiveness of Louisiana LNG and was a key milestone towards achieving a successful final investment decision. Stonepeak is a high-quality partner, with extensive investment experience across US gas and LNG infrastructure. 'The accelerated capital contribution from Stonepeak enhances Louisiana LNG project returns and strengthens our capacity for shareholder returns ahead of first cargo from the Scarborough Energy Project in Western Australia, targeted for the second half of 2026. 'We continue to see strong interest from additional potential partners in Louisiana LNG.' This development comes on the heels of Japan-based energy company JERA's recent signing of a non-binding heads of agreement with Woodside Energy Trading Singapore for the LNG procurement. Situated near Lake Charles, Louisiana LNG has a total permitted capacity of 27.6 million tonnes per annum (mtpa) across five trains. The approved foundation project features three trains with a combined capacity of 16.5mtpa. "Woodside closes 40% stake sale in Louisiana LNG project" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
25-06-2025
- Business
- Business Wire
Woodside Completes Louisiana LNG Sell-Down to Stonepeak
HOUSTON--(BUSINESS WIRE)--Woodside is pleased to announce the completion of the sell-down of a 40% interest in Louisiana LNG Infrastructure LLC to Stonepeak, a leading global investment firm specialising in infrastructure and real assets. The completion follows Woodside's announcement on 7 April 2025 that it had signed an agreement with Stonepeak, enhancing Louisiana LNG economics and strengthening Woodside's near-term capacity for shareholder returns. 1 Under the transaction, Stonepeak will provide US$5.7 billion towards the expected capital expenditure for the foundation development of Louisiana LNG on an accelerated basis, contributing 75% of project capital expenditure in both 2025 and 2026. The closing payment of approximately US$1.9 billion received by Woodside reflects Stonepeak's 75% share of capex funding incurred since the effective date of 1 January 2025. Woodside CEO Meg O'Neill said Stonepeak would add further value to the Louisiana LNG Project. 'Our partnership with Stonepeak reflects the attractiveness of Louisiana LNG and was a key milestone towards achieving a successful final investment decision. Stonepeak is a high-quality partner, with extensive investment experience across US gas and LNG infrastructure. 'The accelerated capital contribution from Stonepeak enhances Louisiana LNG project returns and strengthens our capacity for shareholder returns ahead of first cargo from the Scarborough Energy Project in Western Australia, targeted for the second half of 2026. 'We continue to see strong interest from additional potential partners in Louisiana LNG.' Stonepeak Senior Managing Director and Head of US Private Equity James Wyper said the company was pleased to be working with Woodside. 'Louisiana LNG will be a timely and strategic addition to the US LNG export landscape as the world's demand for cleaner, more flexible and more affordable energy continues to grow. 'We look forward to contributing our expertise and capital to the construction and future operation of Louisiana LNG and are highly energised to continue supporting the development of critical North American LNG infrastructure with global impact.' About Stonepeak Stonepeak is a leading alternative investment firm specialising in infrastructure and real assets with approximately US$73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, DC, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. About Louisiana LNG Louisiana LNG is a fully permitted LNG project located near Lake Charles, Louisiana, with total permitted capacity of 27.6 million tonnes per annum (Mtpa) across five trains. The approved foundation project includes three trains with a combined capacity of 16.5 Mtpa and achieved a successful final investment decision in April 2025. Bechtel is the engineering, procurement and construction contractor, under a lump sum, turnkey agreement. The facility utilises the Chart IPSMR ® liquefaction technology and Baker Hughes LM6000PF+ gas turbines. This announcement was approved and authorised for release by Woodside's Disclosure Committee. Forward-looking statements This announcement contains forward-looking statements with respect to Woodside's business and operations, market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding the transaction (including statements concerning the expected benefits of the transaction and other future arrangements between the parties) expectations regarding future expenditures and future results of projects. All forward-looking statements contained in this announcement reflect Woodside's views held as at the date of this announcement. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as 'guidance', 'foresee', 'likely', 'potential', 'anticipate', 'believe', 'aim', 'estimate', 'expect', 'intend', 'may', 'target', 'plan', 'forecast', 'project', 'schedule', 'will', 'should', 'seek' and other similar words or expressions. Forward-looking statements in this announcement are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of aspirational targets that Woodside has set for itself and its management of the business. Those statements and any assumptions on which they are based are only opinions, are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives. Details of the key risks relating to Woodside and its business can be found in the "Risk" section of Woodside's most recent Annual Report released to the Australian Securities Exchange and Woodside's most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at You should review and have regard to these risks when considering the information contained in this announcement. Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. All information included in this announcement, including any forward-looking statements, speak only as of the date of this announcement and, except as required by law or regulation, Woodside does not undertake to update or revise any information or forward-looking statements contained in this announcement, whether as a result of new information, future events, or otherwise. Other important information All references to dollars, cents or $ in this announcement are to US currency, unless otherwise stated. References to 'Woodside' may be references to Woodside Energy Group Ltd and/or its applicable subsidiaries (as the context requires). 1 See 'Woodside announces Louisiana LNG partnership with Stonepeak' announced on 7 April 2025 for details.
Yahoo
14-05-2025
- Business
- Yahoo
McDermott completes Scarborough FPU floatover for Woodside Energy
McDermott has completed the Scarborough floating production unit (FPU) floatover project for Woodside Energy. This milestone encompasses the fabrication, construction and offshore installation of the FPU topside and hull structures. The contract, awarded in 2021, extended McDermott's involvement with the Scarborough Energy Project following the front-end engineering design (FEED) of the FPU. The project's scope includes comprehensive engineering, procurement, construction, installation and commissioning services. McDermott has undertaken the design, fabrication, integration, transportation and installation of the FPU, which features a topside of approximately 30,000 tonnes (t) and a 37,000t hull structure. The company said this FPU is not only the largest that McDermott has ever designed and constructed but also ranks among the most significant semi-submersible production platforms in offshore history. The topsides were fabricated at McDermott's joint venture yard, Qingdao McDermott Wuchuan, in Qingdao, China. Concurrently, the hull was constructed by COSCO at its Qidong shipyard. The topsides boast six deck levels and are equipped with 169 core equipment units including three gas turbine-driven export gas compressors and three main generators with waste heat recovery systems. The facility also includes more than 50,000m of piping, one million metres of cabling, 568 integrated subsystems and a battery energy storage system to support emissions reduction efforts. Earlier this month, the topsides and hull were transported offshore and the topsides were installed onto the hull via a floatover operation off the coast of Dalian, China. Post-floatover, the FPU reached CIMC's Raffles yard in Yantai, China, for the final integration works. The next phase will see the FPU sail to Western Australia to be moored at the Scarborough gas field roughly 375km offshore from the Burrup Peninsula. Additionally, McDermott has also secured an enterprise framework agreement (EFA) with Shell Global Solutions International. Spanning an initial three years with options for two additional one-year extensions, the EFA encompasses engineering and procurement services across McDermott's Low Carbon Solutions, Offshore Middle East, and Subsea and Floating Facilities divisions. "McDermott completes Scarborough FPU floatover for Woodside Energy" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
McDermott Advances Scarborough EPCIC with Successful FPU Floatover
HOUSTON, May 13, 2025 /PRNewswire/ -- McDermott announces the safe, successful completion of fabrication, construction, and offshore floatover of the Scarborough floating production unit (FPU) topside and hull structures for Woodside Energy. The contract, awarded in 2021, followed the successful delivery of front-end engineering design for the Scarborough Energy Project's FPU and includes engineering, procurement, construction, installation and commissioning (EPCIC) services. McDermott is delivering design, fabrication, integration, transportation and installation of an approximately 30,000-metric-ton topside and 37,000-metric-ton hull structure, making it the largest floating production facility the company has ever designed and built, and one of the largest semi-submersible production platforms built in offshore history. Topsides fabrication was completed at McDermott's joint venture yard, Qingdao McDermott Wuchuan (QMW), in Qingdao, China, while the hull was constructed by COSCO in its Qidong shipyard, also in China. The topsides have six deck levels; 169 core equipment units, including three gas turbine-driven export gas compressors and three main generators with waste heat recovery systems; more than 50,000 meters of piping; one million meters of cabling; 568 integrated subsystems and a battery energy storage system, supporting operational emissions reduction. Earlier this month, both structures were transported offshore, and the topsides installed onto the hull via floatover off the coast of Dalian, China. Following the successful floatover, the FPU arrived at CIMC's Raffles yard in Yantai, China, for final integration works. From there, it is expected to sail away to Western Australia, where it will be moored at the Scarborough gas field approximately 375 kilometers offshore from the Burrup Peninsula. About McDermottMcDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit Forward-Looking StatementsMcDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected scope and execution of the project discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement. Contacts: Global Media RelationsReba ReidSenior Director, Global Communications and Marketing+1 281 588 5636RReid@ View original content to download multimedia: SOURCE McDermott International, Ltd
