Published by Todd Bush on March 29, 2022
HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that it has issued a limited notice to proceed to Bechtel Energy Inc. (Bechtel) under its executed Engineering, Procurement and Construction (EPC) contract to begin construction of phase one of the Driftwood LNG terminal, a liquefied natural gas (LNG) export facility near Lake Charles, Louisiana.
Tellurian's Driftwood LNG
>> In Other News: SWM and Neenah to Combine in All-Stock Transaction to Create a ~$3 Billion Global Leader in Specialty Materials
President and CEO Octávio Simões said, "Energy security is a leading concern in many countries today and the United States must do our part to supply LNG to the global market as quickly as possible. Beginning construction now allows Tellurian to deliver upon our robust schedule for first LNG in 2026 while we complete the project financing. We are well advanced in Driftwood LNG's detailed engineering and major equipment orders, and we have completed all the owners' projects required for us to turn the site over to Bechtel."
Craig Albert, Chief Operating Officer of Bechtel, said, "We are very proud and honored to continue our long partnership with Tellurian on the Driftwood LNG project. It is as apparent as ever that the world needs this reliable source of energy from the USA. And we are excited to now shift our focus to the field to begin construction."
"We are pleased to continue our longstanding partnership with Tellurian as we deliver cleaner and more affordable energy for communities around the world. We are honored to help bring their vision to a reality by commencing the major field work on a project of this magnitude," added Paul Marsden, President of Bechtel Energy.
Bechtel's first activities include demolition, civil site preparation and construction of critical foundations, and Baker Hughes will progress manufacturing two of the natural gas turbines required for phase one of the project.
Driftwood LNG is an approximately 27.6 mtpa liquefaction export facility. Phase one will include two LNG plants with an export capacity of up to 11 million tonnes per annum (mtpa). Driftwood has received all the major permits required for construction and operation, has progressed detailed engineering to approximately 30% complete, and has finalized the purchase and lease of approximately 1,200 acres of real estate ensuring an ideal construction site with ample laydown and deepwater access for shipping.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol 'TELL'.
For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG
Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers' objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.
Bechtel serves the Energy; Infrastructure; Nuclear, Security & Environmental; and Mining & Metals markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🔧 America Bets Big on Blue Hydrogen: Inside the Engine Revolution Backed by Top Institutions 🤖 Bringing AI to Carbon Capture: How Imperial College is Revolutionising Plant Operat...
Inside This Issue 💰 Shell, Equinor, Totalenergies to Invest $714 Million in Carbon Storage Expansion 🚢 AiPs Obtained for Liquefied CO₂ Carrier Design and Floating Liquefied Storage Facility 🌱 Stoc...
Inside This Issue 🌍 Innovating the Future: Gautam Swami's Global Journey in Low-carbon Energy and Finance 🌊 Captura Announces Sale of Carbon Removal Credits and Strategic Partnership With Mitsui O...
EFM and Meta Collaborate to Advance Climate-Smart Forestry in Washington State
PORTLAND, Ore.--Yesterday, EFM, a forest investment and management firm, and Meta announced that they have finalized a groundbreaking long-term contract for the delivery of 676,000 nature-based car...
Carbon Direct Releases Criteria for High-Quality Marine CDR in Collaboration with Microsoft
New standards aim to support buyers and developers in advancing scientifically rigorous, scalable mCDR solutions Key Takeaways: New standards for marine carbon dioxide removal (mCDR) – Carbon ...
dynaCERT Applauds the Expansion of the Ontario Hydrogen Innovation Fund
TORONTO – dynaCERT Inc. (TSX: DYA) (OTC: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) applauds the recently announced changes of March 31, 2025, proposed for the Ontario Government Hydrogen Inno...
$28 million project financing, inclusive of the completed sale of the Investment Tax Credit associated with the project, returns cash back to Energy Vault's balance sheet for the first resiliency c...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.