Woodside makes US LNG push with Tellurian acquisition
The Australian firm’s purchase represents a significant move into US LNG by an international player and will boost the planned Driftwood project after years of uncertainty
Australia-based Woodside said in late July it had agreed to buy US LNG company Tellurian for $900m in cash, or $1.00 per share of outstanding Tellurian common stock. This puts the Houston-based company’s enterprise value at $1.2b including debt and working capital, and includes the fully permitted Driftwood LNG project, on which FID has not yet been taken. Driftwood is Tellurian’s core asset. Under the current development plan, the first phase of the project would have a capacity of 11mt/yr, with a second phase adding 5.5mt/yr. The entire project comprises four phases and five liquefaction trains with a combined capacity of 27.6mt/yr. Woodside immediately stated its intention to build the pr
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
