U.S. natural gas pipeline giant Williams Companies has agreed to invest $1.9 billion in Woodside Energy’s $17.5 billion Louisiana LNG project, strengthening its role in America’s growing liquefied natural gas export industry.

The deal gives Williams a 10% equity stake in the project’s holding company and an 80% interest in the Driftwood pipeline, which will transport natural gas to the new export facility. The terminal, currently under construction, is expected to start operations in 2029 with an annual production capacity of 16.5 million metric tons (mtpa).

Woodside said the latest investment would generate about $378 million in proceeds, reducing its share of the project’s capital cost to $9.9 billion, down from $11.8 billion. Earlier this year, the Australian energy firm sold a 40% stake in Louisiana LNG’s infrastructure arm to U.S. investor Stonepeak for $5.7 billion.

As part of the new agreement, Williams will receive 1.5 mtpa of LNG production and a 10% share in a previously signed 1 mtpa offtake deal between Woodside and Uniper, the German energy company.

The announcement lifted Woodside’s shares by 4.1% to A$24.11 in Sydney trading on Thursday — their highest level in over a month.

The Louisiana LNG project is one of several large-scale developments benefiting from the Trump administration’s push to expand U.S. oil and gas exports. Since President Donald Trump’s return to office in January, over 65 mtpa of new LNG capacity across the country has secured final investment approval.

The project marks a major milestone for the U.S. energy sector, as the first LNG export terminal to reach a final investment decision in 2025, further cementing America’s status as a global leader in natural gas supply.