Norton Rose Fulbright Avised Woodside On The Sale Of 40% Stake In Louisiana LNG Project To Stonepeak
Norton Rose Fulbright advised Woodside on the sale of 40% stake in Louisiana LNG project to Stonepeak
Norton Rose Fulbright advised Woodside Energy Group Ltd. on its signing of a transaction to sell a 40 percent equity interest in Louisiana LNG Infrastructure LLC to Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. The transaction is valued at US$5.7 billion and will support the expected capital expenditure for the 16.5 million tonnes per annum foundation development of the Louisiana LNG project.
Following completion—subject to conditions including a final investment decision, regulatory clearances, and other customary approvals—Woodside will retain a 60 percent interest and remain the operator of the project. Completion is expected in the second quarter of 2025.
Shauna Johnson Clark (Houston), Norton Rose Fulbright’s US Chair, its US Head of Employment and Labor and the firm’s lead relationship partner for Woodside, said, “We are immensely grateful to Woodside for its trust and confidence in our team and the opportunity the company gave us to support it on this important project.”
Corporate, M&A and securities partner Bryn Sappington (Dallas), who co-led this transaction with projects partner Noam Ayali (Washington, DC), along with corporate, M&A and securities partner Blake Redwine (Dallas), said, :“Following on our representation of Woodside last year in the public merger transaction to acquire Tellurian Inc. (the original developer of the Driftwood LNG Project renamed Woodside Louisiana LNG) and assume the ownership of the Louisiana LNG project, we were delighted to be able to support and assist our client in monetizing this asset.”
Noam, who is the firm’s Global Co-Head of Energy, noted:
“Woodside’s unique and creative approach to the project introduced a number of ‘firsts’ to solve for, compared to other US Gulf Coast LNG projects. We are truly honored to have had an opportunity to be involved and support Woodside in establishing the commercial framework for the Louisiana LNG Project and help progress the project toward FID with the signing of the transaction with Stonepeak.”
The Norton Rose Fulbright team was led by Noam Ayali (Projects Partner, Washington DC), Bryn Sappington (Corporate, M&A and Securities Partner, Dallas), and Blake Redwine (Corporate, M&A and Securities Partner, Dallas). They were supported by a multidisciplinary team including:
Shauna Johnson Clark (US Chair, Houston), Alex Niebruegge, Jason Boland, Kevin O’Gorman, Timothy Tyler, John Ngunjiri (Houston), Jake Falk, Neely Agin, Luke McFarland, Hilary Lefko, Keith Rosen, Thom Hirsch, Jonathan Franklin, Stefan Reisinger, Claire Huitt (Washington, DC), Steve Suzzan, Roy Goldman, Grace Choi (New York), Todd Schroeder, Caleb Segrest, Cassidy Tennyson, Amanda Yang (Dallas), Amy Mitchell (Austin), Bob Greenslade (Denver), Kim Stouffer (San Francisco), Ian Giles (London) and Violetta Bourt (Brussels).
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