Woodside Energy Group Ltd. is betting on a big future for LNG and the U.S. Gulf Coast’s role in it after making a bold move last month to acquire Tellurian Inc. and its Driftwood liquefied natural gas export project in Louisiana.
The 27 million metric ton/year (mmty) Driftwood project would add to Woodside’s existing 20 mmty portfolio placing it as one of the largest global LNG suppliers, according to Wood Mackenzie.
“This is the first time a large portfolio player has taken full strategic control of a U.S. project,’ said Wood Mackenzie’s Daniel Toleman, the firm’s Perth-based research director for Global LNG. “We’ve seen companies take strategic non-operated positions before. But this suggests Woodside wants to control its own destiny by taking control of one of the best remaining LNG development sites on the Gulf Coast.”
