Overview
- Williams acquires a 10% stake in the project’s infrastructure entity and an 80% operating interest in the Driftwood pipeline supplying the terminal.
- The deal is effective January 1, 2025, closed at signing, includes a $250 million initial payment, and commits Williams to about $1.9 billion of capital contributions.
- Woodside receives total proceeds of approximately $378 million and lowers its expected project spend to $9.9 billion from $11.8 billion.
- Williams secures roughly 1.6 mtpa of LNG, including about 1.5 mtpa under a new SPA plus a proportionate share of an existing 1 mtpa Uniper contract.
- Williams will construct and operate Line 200 and use its Sequent platform to manage feedgas, while the 16.5 mtpa project targets first LNG in 2029 with Woodside now holding 50% after the earlier Stonepeak sale.