Woodside has renamed the Driftwood LNG project to Woodside Louisiana LNG, having closed its deal to acquire Tellurian Inc. and its permitted US Gulf Coast development project (OGJ Online, July 22, 2024).
The implied total enterprise value of the deal, including net debt, is about $1.2 billion.
The newly renamed project—under construction in Calcasieu Parish, La., and in the pre-final investment decision (FID) stage—is designed and permitted to export of 27.6 million tonnes/year (tpy) of LNG.
“This is a major growth opportunity that significantly expands our US LNG position, enabling us to better serve global customers and capture further marketing optimization opportunities across both the Atlantic and Pacific Basins,” said Woodside chief executive officer Meg O’Neill.
“Woodside Louisiana LNG is a competitively advantaged opportunity. It is fully permitted, front-end engineering design is complete, and site civil works are well advanced,” she continued.
FID readiness is targeted from first-quarter 2025. Also in the release, O’Neill said the company has received inquiries from “multiple parties looking to enter the opportunity as a strategic partner.”
