Australia's Woodside Energy to buy US LNG developer Tellurian for $1.2 billion (1)

7/22/2024

Australia's Woodside Energy said it had agreed to buy U.S. liquefied natural gas developer Tellurian, including its U.S. Gulf Coast Driftwood LNG export project, for $1.2 B including debt. The agreement could strengthen the United States' position as the world's largest producer of the super-chilled gas by securing the completion of Tellurian's 27.6-MMtpy facility in Lake Charles, Louisiana. The transaction includes the $900 million cash purchase of outstanding Tellurian common stock at $1 per share, Woodside said in a statement, representing a more than 75% premium to Tellurian's last closing price. The deal gives the Australian firm access to a fully authorized project in the U.S.