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.