Driftwood LNG renamed Woodside Louisiana LNG
Published 2:57 pm Monday, October 14, 2024
- Driftwood LNG, owned by Tellurian Inc., is developing a liquefied natural gas (LNG) production and export terminal on the west bank of the Calcasieu River, south of Lake Charles. (Special to the American Press)
Driftwood is now Woodside Louisiana.
It was announced in July that the Tellurian LNG export facility construction project in Carlyss would be acquired by Woodside Energy
The transaction was completed last week, and the project was renamed.
Woodside has acquired all issued and outstanding Tellurian common stock for about $900 million cash, or $1 per share. The implied enterprise value is about $1,200 million, according to a news release from Woodside Energy.
Woodside Louisiana LNG is an under-construction, pre-final investment decision LNG with a total permitted capacity of 27.6 million tonnes per annum.
Front-end engineering design is complete and site civil works are well advanced.
The Federal Energy Regulatory Commission approved Tellurian Driftwood construction in 2019, and gave Tellurian seven years, then later a three-year extension or until 2029 to complete the project.
