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 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.