Woodside, the largest Australian oil and gas company, has agreed to buy a huge liquefied gas export terminal under construction in the United States, doubling down on demand for the fuel even as the world tackles climate change.
The project, while yet to receive a final financial go-ahead, has already secured permits to produce 27.6 million metric tons a year of LNG – natural gas that has been super-chilled to the point that it turns into a liquid and can be loaded onto special ships.
“It adds a scalable US LNG development opportunity to our existing approximately 10 million tonnes per annum of equity LNG in Australia.”
Woodside and other LNG players point to projections that it will remain an indispensable part of the global energy mix.