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.

(Reuters) -Woodside Energy is in talks with an overseas unit of Kuwait Petroleum to sell a stake in its Louisiana liquefied natural gas plant in the U.S., Bloomberg News reported on Monday, citing people with knowledge of the matter.