Woodside to buy US LNG player Tellurian for $1.2 billion

USA

LAKE CHARLES, July 22, 2024 – Woodside Energy will acquire US LNG player Tellurian for USD 1.2 billion, the Australian company said on Monday.

Tellurian is the operator of the Driftwood LNG export project, located in Louisiana’s Lake Charles on the US Gulf Coast.

Driftwood LNG reached an FID in April 2022 and its USD 15.2-billion construction works, undertaken by Bechtel, began the following month.

The facility – housing five plants, 20 trains, three storage tanks and three berths – will have a production capacity of 27.6 million tonnes of LNG per year and is expected to be commissioned in 2026, with production to begin by early 2027.

“The acquisition of Tellurian and its Driftwood LNG development opportunity positions Woodside to be a global LNG powerhouse,” Woodside CEO Meg O’Neill said.