Stonepeak sells $2.5 billion in private bonds for financing Louisiana LNG

US investment firm Stonepeak has refinanced a loan to fund the construction of Louisiana LNG, Bloomberg reported on June 24.

The New York-headquartered company has sold approximately $2.5 bn in private bonds, which will be used to refinance a loan. A spokesperson for Woodside Energy told Bloomberg that any debt raised was not on the project’s books. The transaction was arranged by RBC and Mizuho Financial Group, sources told Bloomberg.

Stonepeak agreed to purchase a 40% stake in Louisiana LNG from Australia’s Woodside Energy in April 2025. The deal closed in June 2025 at a price tag of $5.7 bn. Under the terms of the deal, Stonepeak agreed to bankroll 75% of capital expenditure in 2025 and 2026 to boost the project’s finances and cash flow.

In October 2025, Woodside also sold off 10% of Louisiana LNG to US energy infrastructure company Williams for $250 mn.

The sell off helped Woodside move ahead with a positive final investment decision (FID) in April 2025 on Phase One of the project, which will see three liquefaction trains built for a production capacity of 16.5 mn tonnes per year (tpy) and is forecast to come at a price tag of about $17.5 bn.

A second expansion phase, if decided upon to pursue, would increase the facility’s total production capacity to 27.5 mn tpy.

The project was initially conceived as Driftwood LNG by US LNG developer Tellurian, which was acquired by Woodside in July 2024 for $900 mn. Almost immediately after acquiring Driftwood LNG, Woodside opened talks for partnerships.

Woodside has struggled to find offtakers for Louisiana LNG due to higher-than-average liquefaction fees, which have created a suppressed market among LNG buyers. However, in April Woodside did enter a sales and purchase agreement with Germany’s Uniper for the supply of up to 1mn tpy.

Woodside is hoping to begin shipping cargoes from the Lake Charles export terminal in 2029.