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SINGAPORE (Reuters) – Australia’s Woodside (OTC:) Vitality Group mentioned on Thursday it has signed an engineering, procurement and building (EPC) contract with U.S. engineering agency Bechtel to develop the Louisiana liquefied (LNG) undertaking.
The EPC contract will cowl the muse growth for the undertaking’s three manufacturing trains, with a capability of 16.5 million tons every year.
The oil and gasoline producer additionally acknowledged that it goals to make the ultimate funding determination (FID) by the primary quarter of 2025.
“ Complete (EPA:) Louisiana LNG expenditure from December to the tip of the primary quarter of 2025 is forecast to be as much as $1.3 billion, which is included within the general estimated value for the muse growth,” Woodside mentioned in an announcement.
The estimated value for the undertaking’s basis growth is $900-$960 per ton of LNG, unchanged from the vary on the time of its acquisition.
Woodside totally owns the Louisiana LNG undertaking after its $1.2 billion acquisition of developer Tellurian (NYSE:) Inc in October. It’s looking for to promote a 50% stake within the undertaking.
The undertaking has a complete permitted capability of 27.6 million tons every year.
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