Australia-based Woodside Energy Group has reached a $17.5 billion final investment decision on its liquefied natural gas production and export facility in Lake Charles.

Officials announced the news on Monday. The facility, called Louisiana LNG, is the largest foreign direct investment in Louisiana history.

“Woodside’s decision to invest in Louisiana is an unmistakable signal to the world that we have what it takes to continue our legacy of powering the globe,” a statement from Gov. Jeff Landry reads.

Once operational in 2029, Louisiana LNG will produce up to 16.5 million metric tons of LNG per year. The project is expected to support “thousands” of construction jobs during the development phase and thousands more direct new jobs once the facility is up and running, according to Louisiana Economic Development.

Woodside’s final investment decision comes on the heels of two other major project announcements in Louisiana: Meta’s $10 billion AI data center in Richland Parish and Hyundai’s $5.8 billion steel plant in Ascension Parish.

“Louisiana is in a new era, one that is utilizing our competitive advantages and comprehensive business ecosystem to generate transformational opportunities for our state that have nationwide and worldwide impact,” a statement from LED Secretary Susan Bourgeois reads.

Woodside acquired the Lake Charles LNG project—formerly known as Driftwood LNG—with its acquisition of Houston-based Tellurian Inc. in 2024. The project has a total permitted capacity of 27.6 MPTA. Construction is already underway.

Louisiana currently has four operational LNG export terminals—more than any other state—and is responsible for 61% of the nation’s LNG exports, LED says. The state ranks third in the nation for natural gas production and holds 6% of all U.S. natural gas reserves.