Woodside completes acquisition of Tellurian

Woodside is pleased to also announce 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 major growth opportunity that significantly 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. Our acquisition provides a new strategic direction for this development."

¹1 Includes US$50 million for Tellurian’s Series C Convertible Preferred equity shares, ~US$65 million of net debt, ~US$20 million net working capital adjustment, ~US$50 million for management and debt change of control costs and ~US$135m of interim funding from signing to close. Does not include management construction incentive payment awards. The accounting treatment of the purchase price will be included in Woodside’s 2024 Annual Report and will include share purchase consideration, interim funding and other items.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/09102024/woodside-completes-acquisition-of-tellurian/