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 Energy is involved in intensive discussions with "a couple of parties" interested in participating in its just-approved $17.5B Louisiana LNG gas export project, CEO Meg O’Neill said

Australian company Woodside Energy announced Tuesday that it has approved a plan for a Louisiana LNG project. The company said the $17.5 billion investment will be made in the LNG project, pipeline, and management reserve.