The Louisiana LNG facility is expected to create roughly 400 permanent jobs and 6,500 construction jobs. Officials call it the largest foreign investment in the state's history.

Australian company Woodside Energy announced Tuesday that it has approved a plan for a Louisiana LNG project. The company said the $17.5 billion investment will be made in the LNG project, pipeline, and management reserve.

Woodside Energy (NYSE:WDS) is involved in intensive discussions with "a couple of parties" interested in participating in its just-approved $17.5B Louisiana LNG gas export project, CEO Meg O’Neill said Tuesday.