Woodside has signed a definite agreement to acquire US natural gas firm Tellurian in a $1.2bn deal, which its CEO believes will create a “global LNG powerhouse.”
Tellurian owns and operates Driftwood LNG, a proposed 27.6 million tonnes per annum LNG export facility and associated pipeline located near Lake Charles, Louisiana, which Woodside will inherit as a result of the transaction.
Driftwood LNG will be made up on five LNG trains through four phases. Woodside has already said it is targeting a final investment decision (FID) readiness for the first phase in Q1 2025.
Meg O’Neill, CEO of Woodside, said the transaction adds a scalable US LNG development opportunity to the company’s existing around 10 million tonnes per annum of equity LNG in Australia.
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