Woodside Energy and Saudi Aramco have entered into a non-binding collaboration agreement to explore global opportunities, including Aramco’s potential acquisition of an equity interest in and LNG offtake from the Louisiana LNG project.

The agreement also opens the door for both companies to explore potential collaboration in lower-carbon ammonia initiatives.

The agreement was signed in Riyadh at the Saudi-US Investment Forum, a high-profile event attended by Saudi Arabian Crown Prince and Prime Minister Mohammed bin Salman and US President Donald Trump.

Woodside CEO Meg O’Neill welcomed the collaboration, stating: “We are excited to explore new opportunities with Aramco.

“This collaboration aligns with Woodside’s strategic vision to build a diverse and resilient global portfolio.

“It leverages our growing relationship with one of the world’s leading integrated energy and chemicals companies, to explore new opportunities which deliver value for both parties.

“It is also another demonstration of the ongoing interest Louisiana LNG is generating among high-quality potential investors, following our recent agreement with Stonepeak to acquire a 40 per cent interest in the project’s infrastructure holding company.”

Woodside recently made a final investment decision to develop the Louisiana LNG project, which will consist of three trains with a combined capacity of 16.5 million tonnes per annum.

The company is targeting first LNG production in 2029.

The project is expected to further diversify Woodside’s global energy portfolio and strengthen its position as a leading international energy provider.

This collaboration highlights the growing interest among major global players in investing in large-scale LNG projects and underscores the strategic value of partnerships in advancing both traditional and lower-carbon energy solutions.