Woodside Close to a Decision to Proceed with Former Driftwood LNG

MDN chronicled the rise and fall of Tellurian, founded by Charif Souki (who also founded Cheniere Energy), and Tellurian's LNG export project, Driftwood. Tellurian’s primary focus was to build Driftwood LNG, a 27.6 million tonnes of LNG per year facility that would cost $14.5 billion. Construction began on the project in March 2022, even without a final investment decision (see Tellurian Begins Construction of Driftwood LNG with No FID). The company spent more than $1 billion in building Driftwood before all the wheels came off financially. Last July, Australian LNG giant Woodside announced a deal to buy Tellurian (and Driftwood) for $1.2 billion (see Australia’s Woodside Buying Tellurian & Driftwood LNG for $1.2B). The deal closed in October.

---

To view this content, log into your member account. (Not a member? Join Today!)