Woodside to Acquire Tellurian for Approximately $900M


   
    

    

   OAKHURST, N.J. (DTN) --- Woodside has entered into a definitive agreement to 
acquire all issued and outstanding common stock of Tellurian including its 
owned and operated US Gulf Coast Driftwood LNG development opportunity for 
all-cash payment of approximately $900 million. The transaction closing is 
targeted for the fourth quarter.

   "The acquisition of Tellurian and its Driftwood LNG development opportunity 
positions Woodside to be a global LNG powerhouse," said Woodside CEO Meg 
O'Neill. "It adds a scalable US LNG development opportunity to our existing 
approximately 10 Mtpa of equity LNG in Australia. Having a complementary US 
position would allow us to better serve customers globally and capture further 
marketing optimization opportunities across both the Atlantic and Pacific 
Basins."

   Driftwood LNG is a fully permitted, pre-final investment decision (FID) 
development opportunity located near Lake Charles, Louisiana. The current 
development plan comprises five LNG trains through four phases, with a total 
permitted capacity of 27.6 Mtpa.

   O'Neill continued, "The Driftwood LNG development opportunity is 
competitively advantaged. Woodside expects to leverage its global LNG expertise 
to unlock this fully permitted development and expand our relationship with 
Bechtel which is the EPC contractor for both Driftwood LNG and our Pluto Train 
2 project in Australia. Through this acquisition, we are delivering on our 
strategy to thrive through the energy transition. Woodside believes that LNG 
will play a key role in the energy transition and is well positioned to deliver 
the energy the world needs while delivering significant value to our 
shareholders."




(c) Copyright 2024 DTN, LLC. All rights reserved.