The Australian energy group Woodside has entered into a definitive agreement to buy the US energy developer Tellurian for US$1.2bn including debt. The acquisition is expected to expand Woodside’s position as a leading independent LNG company, as it will include Tellurian's Driftwood LNG export project on the US Gulf Coast
Driftwood LNG is a fully permitted, pre-final investment decision (FID) project located near Lake Charles, Louisiana (United States), comprising five LNG trains through four phases, with a total permitted capacity of 27.6 Mt/year. Woodside is targeting FID readiness for Phase 1 (11 Mt/year) of Driftwood LNG from early 2025. The plant has a valid non-free trade agreement (FTA) export authorisation. The project also recently received an extension of its Federal Energy Regulatory Commission (FERC) authorisation. Construction has started, with pilings for Trains 1 and 2 complete, foundation work in progress and pilings underway for the LNG tanks.