The Louisiana LNG facility is expected to create between 500 and 1,000 permanent jobs and 8,000 construction jobs. Officials call it the largest foreign investment in the state's history.

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.

Woodside (NYSE:WDS) signed an agreement with BP (NYSE:BP) on Tuesday for the integrated energy major to supply natural gas to the Louisiana LNG project. This agreement represents the first tranche of a diversified portfolio of feedgas that will support the Louisiana LNG project,