BATON ROUGE — State economic development officials on Tuesday announced a $17.5 billion investment in a liquified natural gas production facility in Calcasieu Parish in southwestern Louisiana.

Louisiana LNG should produced up to 16.5 million metric tons of LNG per year, according to a statement from Woodside Energy Group, the Australian company behind the investment.

Louisiana Economic Development officials said the project marks the largest single foreign direct investment in state history. Gov. Jeff Landry held a news conference late Tuesday morning to discuss the project.

The state already has four LNG export terminals and handles 61 percent of the nation's LNG exports, the state officials said. The state ranks third in the nation for natural gas production and holds 6 percent of all U.S. natural gas reserves.

Woodside acquired the Lake Charles project in 2024. It was formerly known as Driftwood LNG. Production is expected to begin in 2029. Woodside officials said the project will bring thousands of jobs in both construction and facility operations.

The Calcasieu investment is the latest in a series of infusions into the state's economy, including a $4 billion CF Industries ammonia plant and a $5.8 billion Hyundai steel mill, both in Ascension Parish.