In a blockbuster cross-continental deal, Australian energy powerhouse Woodside Energy Group Ltd. announced Monday that it has struck a $5.7 billion agreement with U.S. infrastructure investor Stonepeak, selling off a 40% stake in its Louisiana LNG export terminal.
This high-stakes transaction marks a major milestone in the evolution of the Gulf Coast’s liquefied natural gas (LNG) landscape, coming at a pivotal time as global energy players vie for dominance in the booming LNG market.
Legal Titans Navigate the Deal
The transaction was carefully shepherded by legal heavyweights: Norton Rose Fulbright advised Woodside, while Simpson Thacher & Bartlett LLP provided transactional counsel to Stonepeak. Paul Weiss Rifkind Wharton & Garrison LLP handled Stonepeak’s financing matters — a trio of firms orchestrating a deal of continental proportions.
A Competitive Bidding War Ends in a Landmark Agreement
Woodside’s CEO Meg O’Neill called the process “highly competitive,” noting that global heavyweights had expressed interest in the Louisiana LNG project. Stonepeak emerged victorious, locking in a joint venture that will help bring the facility to life.
“This transaction further confirms Louisiana LNG’s position as a globally attractive investment set to deliver long-term value to our shareholders,” O’Neill said, cementing the project’s significance in the global LNG race.
