Woodside Energy advances $24B Louisiana LNG project

On a 445-hectare former Louisiana swamp, cranes, trucks and excavators are now moving earth around what will become one of the largest LNG projects in the US. The site includes two of North America’s biggest concrete tanks and infrastructure designed to liquefy gas for export, a visible sign that the project has shifted from paper ambition to heavy construction.

Woodside’s push comes as global LNG markets stay tight. QatarEnergy has extended supply cancellations to Pakistan, Bangladesh and Italy until at least November, while low European gas inventories and geopolitical disruption around the Strait of Hormuz are supporting competition for cargoes. That backdrop has kept Asian LNG prices near their highest since 2022 and reinforces why producers still see export capacity as strategically valuable.

The market has already priced in much of the optimism around Woodside’s US expansion. The stock last traded at A$22.77, above its 200-day moving average of A$19.84, after surging earlier this year to as high as A$24.18. By contrast, U.S. peer Cheniere Energy has rallied to about $292, underscoring how investors continue to favor LNG exporters with visible volumes and long-duration cash flow.

Still, the Louisiana project remains the main catalyst. Successful execution would give Woodside a larger foothold in the world’s most important LNG export basin and help offset more mature assets elsewhere in its portfolio. Any slippage, cost blowout or policy reversal would hit a project large enough to move company-wide earnings, balance-sheet leverage and investor confidence.

The next market focus will be on construction milestones, financing, and whether Washington’s pro-export stance under the Trump administration continues to support permitting and development momentum. Global gas volatility and winter demand will likely keep LNG names in the spotlight well into year-end.