Woodside splashes $1.35b in the US to become ‘global LNG powerhouse’

Woodside Energy has splashed $US900 million ($1.35 billion) to expand into the Gulf of Mexico as part of plans to become a “global LNG powerhouse” despite a backlash from investors who say it is too slow to transition away from the fossil fuel.

The ASX-listed oil and gas major will buy Tellurian to secure a terminal under construction in Louisiana. More than $US1 billion has already been spent on developing its Driftwood LNG project, which has development approval for 27.6 million tonnes a year of exports, almost three times Woodside’s output from its Australian projects.