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 Energy is involved in intensive discussions with a couple of parties interested in participating in its newly approved $17.5 billion Louisiana LNG gas-export project, Chief Executive Meg O’Neill said.