Two wholly owned subsidiaries of Tellurian Inc. (NASD: TELL) have filed paperwork to build a $13 billion to $16 billion LNG export facility on the Louisiana Gulf Coast near Lake Charles.
Tellurian said on April 3 that its units, Driftwood LNG LLC and Driftwood Pipeline LLC, had applied with the Federal Energy Regulatory Commission (FERC) to construct and operate a plant with capacity of about 26 MTPA as well as a 96-mile pipeline connecting the facility to interstate pipelines. The company expects construction to begin in 2018, with first LNG produced in 2022.
“Throughout the pre-filing phase, the representatives at FERC, the Department of Energy and the U.S. Coast Guard have been well-organized, thorough, and proficient in ensuring that Driftwood LNG is designed and permitted with a priority on safety, reliability, and efficiency,” said Tellurian President and CEO Meg Gentle in a statement. “We look forward to continuing to work with FERC and other agencies on a timely approval process and beginning construction in 2018.”
Driftwood LNG project will employ about 6,400 workers during the construction phase and require almost 400 permanent positions when fully operational in 2025. A final investment decision to begin construction following regulatory approval is expected in mid-2018.
Recommended Reading
CERAWeek: Exxon Mobil CEO Says Not Trying to Acquire Hess
2024-03-18 - CEO Darren Woods said Exxon Mobil is trying to secure preemption rights over Hess Corp.'s Guyana assets in its dispute with Chevron, not buy the company itself.
Talos Energy Sells CCS Business to TotalEnergies
2024-03-18 - TotalEnergies’ acquisition targets Talos Energy’s Bayou Bend project, and the French company plans to sell off the remainder of Talos’ carbon capture and sequestration portfolio in Texas and Louisiana.
Equinor Brings Solar Plant Online in Brazil
2024-03-08 - Equinor says the Mendubim solar plant will produce 1.2 terawatt hours of power annually.
Matador Bolts On Additional Interest from Advance Energy Partners
2024-02-27 - Matador Resources carved out additional mineral and royalty interests on the acreage it acquired from Advance Energy Partners for $1.6 billion last year.
Permian Activity in ‘Low-to-no-growth’ Mode for First Half
2024-02-22 - After multiple M&A moves in 2023 and continued E&P adherence to capital discipline, Permian Basin service company ProPetro sees the play holding steady.