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.

Australia’s Woodside Energy is boosting its U.S. exposure with a formal commitment to develop the $17.5 billion first stage of a world-class U.S. LNG project.

Woodside Energy Group Ltd. made a final investment decision on a $17.5 billion liquefied natural gas export project in the US, cementing the Australian company’s position as a top supplier of the fuel.