Australia's Woodside Energy gave final approval to build a $17.5 billion liquefied natural gas project in Louisiana, confident a pro-fossil fuel U.S. administration and strong demand will give it competitive returns.

Woodside has entered an agreement with bp to supply gas to the Louisiana LNG project in Calcasieu Parish, US. The agreement represents the first portion of a diverse feed gas portfolio that will support the project,

Woodside emphasised its greenhouse gas emissions reduction targets remain unchanged by the FID on Louisiana LNG, and the starting base for the company’s emissions reduction target would not be adjusted as a result of the project sanction.