Louisiana
Woodside Signs Agreement for Louisiana LNG
PERTH, Australia, December 04, 2024–(BUSINESS WIRE)–Woodside has signed a revised lump sum turnkey engineering, procurement and construction (EPC) contract with Bechtel for the development of the three train 16.5 million tonnes per annum foundation development of Louisiana LNG.
Bechtel has worked on site since the acquisition and will continue work under a limited notice to proceed (LNTP) executed under the revised EPC contract. The LNTP provides for continued site construction and commitment to certain key materials and services required for the foundation project.
Woodside CEO Meg O’Neill said the signing of the EPC contract and continuation of engineering and construction activities contemplated by the LNTP represented an important step in the development of Louisiana LNG.
“Louisiana LNG is positioned to provide LNG into the growing global market and generate value for shareholders in accordance with our capital allocation framework.
“We continue to move at pace. In a short period of time, we have completed the acquisition, secured competitive revised EPC pricing that covers all three trains, and opened the data room with strong interest from potential project partners.
“Louisiana LNG is an advantaged project that is fully permitted and has Bechtel as the EPC contractor. The competitive pricing and schedule certainty we have now secured compounds this advantage in the current uncertain market environment for competing projects.”
Woodside continues to target final investment decision (FID) readiness from the first quarter of 2025.
Total Louisiana LNG expenditure from December to end of the first quarter of 2025 is forecast to be up to $1.3 billion, which is included in the overall estimated cost for the foundation development.
The estimated forward cost for the foundation development is $900-960/tonne, unchanged from the range at the time of acquisition.1
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Includes EPC, contractor completion incentive payments, owner’s costs, and contingency; excludes pipeline cost. |
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About Louisiana LNG
Louisiana LNG is an under-construction, pre-FID, LNG production facility and export terminal in Calcasieu Parish, Louisiana. It is a high-quality, scalable development opportunity, with a total permitted capacity of 27.6 million tonnes per annum.
Louisiana LNG is a major growth opportunity that would expand Woodside’s US LNG position, enabling the company to better serve global customers and capture marketing optimisation opportunities across the Atlantic and Pacific Basins.
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This announcement was approved and authorised for release by Woodside’s Disclosure Committee. |
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Forward-looking statements
This announcement contains forward-looking statements with respect to Woodside’s business and operations, market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding the timing of completion of other transactions, the timing of completion of Woodside’s projects and expectations regarding future expenditures and future results of projects. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as ‘guidance’, ‘foresee’, ‘likely’, ‘potential’, ‘anticipate’, ‘believe’, ‘aim’, ‘aspire’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘forecast’, ‘outlook’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other similar words or expressions. Similarly, statements that describe the objectives, plans, goals or expectations of Woodside are forward-looking statements.
Louisiana
Louisiana’s disappearing coast could shape Baton Rouge’s future
BATON ROUGE, La. (WAFB) – South Louisiana’s coast has long served as a natural buffer between communities and rising water.
But since the 1930s, Louisiana has lost nearly 2,000 square miles of coastal land.
Dr. Torbjorn Tornqvist, a professor at Tulane University, said Louisiana is one of the most vulnerable coastal areas in the world because of climate change, sea level rise and subsidence.
“Louisiana is arguably one of the most vulnerable… perhaps the most vulnerable coastal zones in the world when it comes to climate change and sea level rise… and there are several reasons for that but one important reason is that we have high subsidence rates, and that means sea level rise here is a lot faster than the average around the world,” Tornqvist said.
Tornqvist is the lead author of a recently published study examining the long-term impacts of sea level rise across south Louisiana.
He said the issue is no longer limited to communities closest to the Gulf Coast.
“People are leaving the coast of Louisiana, but it’s going to accelerate over the course of the century. And those people are going to have to go somewhere, and it’s likely that a significant number are going to look at a place like Baton Rouge to move to,” Tornqvist said.
Since Hurricane Katrina, Louisiana has invested billions of dollars in large-scale restoration projects designed to reduce flood risk and strengthen the coast.
Some researchers believe those projects are important but not permanent fixes.
“We have…right now we have a pretty high-quality flood protection system that’s obviously way better than it was during Katrina and we should certainly keep investing in upkeep, but we also have to recognize that’s only going to take us so far,” Tornqvist said.
State officials say those investments remain critical as Louisiana adapts to future flood risks.
Micheal Hare, executive director of the Coastal Protection and Restoration Authority, said the state’s coastal plan is designed to balance restoration work with protection projects, including levees.
“Our 2023 master plan certainly incorporates the best science available to us to then come up with a balanced approach between how do we effectively spend money on restoration as well as money on protection projects like levees,” Hare said.
Hare said those projects will continue to evolve as future risks change. CPRA and the Army Corps of Engineers are re-evaluating portions of the West Bank and Vicinity levee system in New Orleans to meet projected future flood risks within the next half-decade.
“Morganza to the Gulf is a great example, location communities came together, they started funding it…so that protection is critical…It will constantly be maintained and constantly elevated to meet the new levels of threats and risks that are out there,” Hare said.
Coastal officials and researchers agree that what happens along Louisiana’s coast will continue to affect communities far beyond the shoreline for generations.
“And so maybe you don’t live behind the levee, but I promise you want those coastal communities to stay there and to keep working, and to stay productive and engaged…so that we don’t have to have these flood fights further north or lose parts of our economy,” Hare said.
Tornqvist said the decisions made now could shape the future of Louisiana communities.
“What’s really important to recognize is that the next few decades are basically going to decide the long-term future of cities like Baton Rouge,” Tornqvist said.
Louisiana has always lived with water. As the coast changes and sea levels rise, the challenge is how communities across south Louisiana continue adapting for generations to come.
From the Gulf Coast to Baton Rouge, the future of Louisiana’s coastline is a conversation that impacts the entire state.
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Louisiana
Louisiana is the eighth most affordable state to retire, study says
Louisiana ranks among the top 10 most affordable states to retire, according to a new study from Retirement Living, a national journal of retirement research.
Researchers analyzed each state’s housing costs, living expenses and tax friendliness to compile the ranking. Louisiana, they say, is the eighth most affordable state for retirees.
In Louisiana, the median monthly rent for a one-bedroom apartment is $932, the median home sale price is $255,000, monthly grocery spend per capita is $272, the average price per gallon of regular gas is $4, the average Medicare Advantage monthly premium is $13.35 and the average effective property tax rate is 0.55%.
West Virginia is the most affordable state to retire, followed by Mississippi, Alabama, Oklahoma, Arkansas, Kentucky, Missouri, Louisiana, Indiana and Kansas. Researchers describe the South as “the sweet spot for an affordable retirement.”
The most expensive state to retire, meanwhile, is California, followed by Hawaii, Washington, Oregon, Colorado, New Jersey, Massachusetts, Utah, New York and Minnesota.
Read Retirement Living’s full report here.
Louisiana
Louisiana agencies urge hurricane preparation ahead of season start
BATON ROUGE, La. (WAFB) – With hurricane season approaching, the Louisiana Coastal Protection and Restoration Authority is bringing the community together to prepare before a storm forms.
“We can’t stop disasters from happening. We can’t stop hurricanes from happening. But what we can do is equip our communities with the resources that they need to prepare for these storms ahead of time,” said Jayda Morris, CPRA outreach manager.
The agency hosted an event featuring interactive storm simulations and a full model of the Mississippi River.
“If you do it now, like on a sunny day like today, you’re ready to go for the rest of the season,” Jay Grymes said.
El Niño may reduce storms, but Louisiana still at risk
State Climatologist Jay Grymes said an El Niño pattern may reduce the number of storms in the Atlantic but warned against a false sense of security.
“In those 25 years, Louisiana, some part of the state has been impacted by 29 storms. That’s one a year, regardless of El Niño. So that should tell you something,” Grymes said.
He said the bigger concern is storms that can form in the Gulf with little warning.
“If we’re going to get a storm, it very possibly could be one that bubbles up in the Gulf and doesn’t give us five or seven days to track it coming our way. It gives us 40 hours to get ready for a landfall. So it’s imperative that you go ahead and do it now,” Grymes said.
Preparation goes beyond stocking water
Preparing now includes walking through yards, checking trees, and knowing whether everyone in the family can survive two weeks without power.
PhD students with the LSU College of the Coast and Environment gave the community a virtual reality experience that puts users inside a storm.
“If they wear the goggles or play with the Apple Vision Pro, they can understand how high will the flood be, and they can know how dangerous is the hurricane scenario,” said Yixuan Wang.
The VR simulation uses real historical data to show users what compound flooding looks like in New Orleans and surrounding areas. The goal is to make the science real for people who can’t picture what a flood map means.
“It’s just to let you understand the environment. We will add the audios, the different sound of the wind and the storm. And you can see how tense of the rainfall around you,” Wang said.
Organizers said the event is about making sure that when a storm threatens the area, families already know their plan.
Information from the event is available on CPRA’s website. Hurricane season runs through Nov. 30.
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