Australian energy giant Woodside will push ahead with a $27 billion (US$17.5 billion) liquefied natural gas (LNG) project in Louisiana, United States.
Woodside shares rose 1.47 percent on the Australian Stock Exchange (ASX) to 20.66 each on April 29 in reaction to the news.
The announcement comes after U.S. President Donald Trump’s declaration of a national energy emergency upon taking office, and his promise to “drill baby drill.”
Woodside expects the project to produce about 16.5 million tonnes per annum (mtpa) of gas in 2029 and generate $2 billion of cash per year from the 2030s.
By the 2030s, Woodside hopes to produce 24 mtpa of gas from the project, contributing to 5 percent of total global LNG supply….