Tellurian Targets Summer Construction at Louisiana LNG

Journal of Petroleum Technology 

Texas LNG developer Tellurian is targeting this summer to start construction of the $1.8-billion Driftwood LNG-export project on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. "There is a strong need for additional liquefaction capacity and we're probably the project that is the closest to starting construction," Tellurian cofounder and executive chairman Charif Souki said. In November 2017, When Tellurian and US-based Bechtel signed four fixed-price, lump-sum, turnkey agreements totaling $15.2 billion for engineering, procurement, and construction (EPC) services, construction was expected to start in 2018, with operations beginning in 2022. Over the past 2 years, however, Driftwood and numerous other projects have been delayed as natural gas prices slumped and customers were unwilling to sign long-term deals needed to finance projects. Last year, demand destruction caused gas prices in Europe and Asia to plunge to record lows below $2/MMBtu, while US gas prices fell to their lowest in 24 years.

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