Kuwait in talks to buy stake in Woodside’s Louisiana LNG

Australian petroleum company Woodside Energy Group is in negotiations with Kuwait Foreign Petroleum Exploration (Kufpec) to sell a stake in its Louisiana liquefied natural gas (LNG) project.

Kufpec, state-owned Kuwait Petroleum’s overseas unit, is considering both acquiring equity and securing LNG supply from the US facility, Bloomberg reported, citing people familiar with the matter. 

The plant is under development and is targeting first production in 2029.

Other companies have expressed interest in similar arrangements, Bloomberg said, without identifying the people.

This development follows Woodside’s recent sale of 40 percent of Louisiana LNG Infrastructure LLC to investor Stonepeak for $5.7 billion. 

• Kuwait signs fresh LNG supply deal with Qatar
• Gulf LNG faces a bearish headwind from US energy dominance
• Kuwait starts merging state oil companies to cut costs

The Australian company needs substantial investment to complete the export facility. Woodside will select a partner soon before making a final investment decision, CEO Meg O’Neill said last month. 

Woodside gained control of the project after acquiring US natural gas company Tellurian in 2024.

The negotiations reflect growing international interest in US energy assets, particularly from Asian and Middle Eastern companies seeking to capitalise on America’s expanding gas production and export capabilities.