Australia's Woodside Energy gave final approval to build a $17.5 billion liquefied natural gas project in Louisiana, confident a pro-fossil fuel U.S. administration and strong demand will give it competitive returns.

Woodside Energy approved the $17.5 billion development of the Louisiana LNG project, betting on strong ongoing demand for traditional fuels and the U.S. as a key natural gas supplier to the global market.

Woodside acquired the Lake Charles project, formerly known as Driftwood LNG, with its acquisition of Houston-based Tellurian Inc. in 2024. The project has a total permitted capacity of 27.6 million Mtpa. Construction is underway on the foundational development with the first production target in 2029.