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In October 2024, Woodside acquired all issued and outstanding Tellurian common stock for about $900 million cash, or $1.00 per share. The implied enterprise value is about $1.2 billion.
Woodside also renamed Tellurian’s Driftwood LNG project Woodside Louisiana LNG.
Last month, Woodside signed a revised engineering, procurement, and construction (EPC) contract with US engineering and construction firm Bechtel for the Louisiana LNG export project.
The lump sum turnkey deal is for the three-train 16.5 million tonnes per annum foundation development of Louisiana LNG.
Woodside said total Louisiana LNG expenditure from December 2024 to the end of the first quarter of 2025 is forecast to be up to $1.3 billion, which is included in the overall estimated cost for the foundation development.
According to the December 2024 construction report filed with the US FERC, the Louisiana LNG project continued construction activities including site preparation, excavation and backfill, storm water management, mud mat installation, dry excavation, pile driving, vegetation burning activities, rebar/formwork in plant 1 and tanks, and wick drain installation.
Lousiana LNG also continued activities for water wells as a non-jurisdictional activity under
the early works program.
During December, the project continued maintenance of site roads and drainage efforts, completed piling in plant 2, while plant 1 sump sheet piling started.
Moreover, Louisiana LNG started excavation for tower cranes foundations at LNG tanks.
On January 17, FERC granted Louisiana LNG’s request for Louisiana LNG to start construction of the concrete foundations for the LNG tank 1 and 2 stair towers.
During January, Louisiana LNG will continue construction activities including maintenance and installation of site roads and drainage efforts, storm water management activities, and mud mat installation.
Louisiana LNG will also continue with dry excavation, burning of vegetation, wick drain installation, complete batch plant earth works, continue rebar installation, start earth work activities for south berm, and continue pile driving for the project.