Agreement with Turkey: Woodside Energy has signed a binding deal to supply Turkey’s state-owned BOTAS with about 5.8 billion cubic meters of LNG for up to nine years starting in 2030, converting a prior nonbinding agreement. Most gas will come from Woodside’s under-construction Louisiana LNG project, approved in April and slated to start deliveries in 2029. Read more from Reuters.
Slim margins: Steakhouses are under pressure as beef prices surge, even as affluent diners absorb higher menu costs. Federal data shows wholesale filet beef costs up about 67% from prepandemic levels, with some operators reporting 40% increases this year alone. Rising labor, rent, utilities and insurance costs are further squeezing margins, especially in urban markets. Read more from The Wall Street Journal.
Construction partner: Dallas-based Jacobs will serve as the engineering, procurement and construction management partner for the $10 billion Hut 8 project, in collaboration with Vertiv, a Westerville, Ohio-based critical digital infrastructure provider, according to a separate Hut 8 news release. J.P. Morgan and Goldman Sachs will serve as loan underwriters on project-level financing expected to cover up to 85% of total costs. Read more from Construction Drive.
