Woodside has completed the acquisition of Tellurian Inc. (Tellurian) and its US Gulf Coast Driftwood LNG development opportunity. Woodside has acquired all issued and outstanding Tellurian common stock for approximately US$900 million cash, or US$1.00 per share. The implied enterprise value is approximately US$1200 million.
Woodside has also announced it has renamed the Driftwood LNG development opportunity Woodside Louisiana LNG.
Woodside Louisiana LNG is an under-construction, pre-final investment decision (FID), LNG production and export terminal in Calcasieu Parish, Louisiana. It is a high-quality, scalable development opportunity, with a total permitted capacity of 27.6 million tpy.
Woodside CEO, Meg O’Neill, said bringing Woodside Louisiana LNG into the global portfolio represented a significant new chapter for the company.
“This is a growth opportunity that expands our US LNG position, enabling us to better serve global customers and capture further marketing optimisation opportunities across both the Atlantic and Pacific Basins.
"Woodside is targeting FID readiness from the first quarter of 2025, with the Tellurian team and engineering, procurement and construction contractor Bechtel having completed work to advance the opportunity to this stage.”