Driftwood LNG – Oil & Gas 360

Woodside completes $900 million acquisition of Tellurian, Driftwood LNG project

October 10, 2024

(World Oil) – Woodside has finalized the acquisition of Tellurian Inc. and its U.S. Gulf Coast Driftwood LNG development for approximately $900 million in cash, or $1.00 per share, with an implied enterprise value of $1.2 billion. The Driftwood LNG project has been renamed Woodside Louisiana LNG. Located in Calcasieu Parish, Louisiana, it is a pre-final investment decision (FID) LNG

Tellurian asks for three-year extension to complete its driftwood LNG facility

October 11, 2023

Oil Price Tellurian has applied for a three-year construction permit extension with the Federal Energy Regulatory Authority to complete the construction of the Driftwood LNG facility. The Driftwood LNG plant, currently under construction, would be one of the biggest in the world, with a capacity of up to 27.6 million tons of liquefied natural gas annually. The price tag of the project is

Tellurian evaluates changes to Driftwood LNG project, plans shares issue

July 22, 2020

Reuters Tellurian Inc is considering changes to its Driftwood LNG export project in Louisiana that could significantly reduce the overall Phase 1 costs, the U.S. liquefied natural gas producer said on Wednesday. The company also disclosed plans to issue 35 million shares at $1 each, a 37% discount to Tuesday’s close, sending its stock plunging 27%. Shares surged more than

Tellurian rattled as Indian buyer seeks competing deal

February 27, 2020

Houston Chronicle Houston-based Telluraian, along with its $28 billion export project, has been rattled by the attempts of a potential major customer in India to probe the market for competing supplies, highlighting mounting pressure on sellers amid a global glut of the fuel. India’s largest liquefied natural gas buyer, Petronet LNG, has started soliciting offers for supply under terms similar

Total Invests $500 Million in Tellurian, Enters Into LNG SPA

July 11, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Total commits to purchasing an aggregate of 2.5 Mtpa Total S.A. (stock ticker: TOT), through its subsidiaries Total Delaware and Total Gas & Power North America, has entered into a definitive agreement to purchase 1 Mtpa from Tellurian’s (stock ticker: TELL) Driftwood LNG terminal. Total will also invest $500 million in

Newest FERC Approval Puts Tellurian’s Driftwood LNG on Track for 2019 FID, Construction Start

April 18, 2019

Tellurian’s Driftwood Receives Order Granting Authorization From FERC

Tellurian is sharply cutting the equity buy-in for potential partners in a bid to make its business model to finance construction of its proposed Driftwood LNG export terminal more attractive.

Tellurian Courts Middle East Investor Capital for its $30-Billion Driftwood LNG Project in Louisiana

April 12, 2019

From National Business U.S. energy company expects FID in first half of 2019 US energy firm Tellurian is looking to partner with investors from the Middle East for its planned $30 billion (Dh110.1bn) Driftwood liquefied natural gas project and aims to finalize its investment decision by the first half of this year. “We are looking forward to bringing in partners

Tellurian’s Driftwood LNG Gets Final Environmental Nod

January 21, 2019

From Reuters Tellurian Inc’s proposed Driftwood liquefied natural gas (LNG) project in Louisiana took a major step forward on Friday as the U.S. federal energy regulator issued a final environmental report clearing the way for the company to seek a permit to build the export terminal. The company said it now needs an order from the Federal Energy Regulatory Commission

Louisiana Debates Whether Tax Exemption Given to Tellurian’s Driftwood LNG Project Is Worth the Cost

December 21, 2018

Competing with Texas for big energy projects is costly From KPLC TV News LAKE CHARLES, LA (KPLC) – Does Louisiana get enough bang for its buck when it gives big industry property tax exemptions? For decades, there’s been debate about whether the trade-off is worth it when Louisiana gives billions of dollars in tax breaks to lure major industry to come

Tellurian Receives $25 Million Equity Infusion from GE Oil & Gas

November 28, 2016

Tellurian and its Driftwood LNG export project move forward Tellurian Investments Inc. announced that GE Oil & Gas has made a $25 million preferred equity investment in Tellurian Investments with an implied Tellurian common stock value of $5.94 per share. Tellurian is in the engineering design and pre-filing stage for a proposed 26 million tonnes per annum Driftwood LNG export

LNG on the Move: Magellan Files S-3 for $500 Million

October 12, 2016

Tellurian+Magellan merger is expected to close Q4 On October 11, Magellan Petroleum (ticker: MPET) filed an S-3 Registration Statement with the SEC paving the way to sell up to $500 million in common stock, warrants and units, the proceeds to be used for general corporate purposes for the company which is moving toward LNG development. Magellan’s previously announced reverse merger

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