Tellurian Inc. is in discussions with Saudi Aramco and Woodside Power Group Ltd. over the 2 corporations investing in its liquefied pure gasoline export mission in Louisiana, in response to folks conversant in the matter.
The US LNG developer has reviewed numerous fairness funding choices from the power corporations associated to its proposed Driftwood plant, mentioned the folks, who requested to not be named as they’re not licensed to talk to the media. They mentioned the potential deal might embody MidOcean Power LLC, a subsidiary of funding agency EIG International Power Companions, through which Aramco holds a stake.
Tellurian, Aramco, Woodside and MidOcean declined to remark.
Final week, Tellurian reached a deal to promote some shale property to Aethon Power Administration LLC in a bid to push ahead with the long-delayed Driftwood plan. Co-founded by US LNG export pioneer Charif Souki, who has since been ousted from the corporate, Tellurian had earlier provide agreements with corporations together with Shell Plc, Gunvor Group and Vitol SA, however they had been terminated because of the mission’s sluggish progress. BloombergNEF, which charges the probability of LNG export initiatives, earlier this yr referred to as Driftwood’s future “unsure,” signifying a low chance of getting greenlit.
Saudi Arabian Oil Co., as Aramco is formally recognized, is seeking to develop in pure gasoline. The federal government offered about $12 billion of shares on Sunday, with a number of the proceeds earmarked to diversify the dominion’s financial system away from oil. Woodside, Australia’s largest oil and gasoline producer, has additionally been in talks to put money into different US LNG export initiatives, together with Power Switch LP’s plant in Louisiana.
It’s unclear how Aramco and Woodside would cut up fairness and offtake from the proposed 27 million ton per yr Driftwood facility. The plant is totally permitted and isn’t affected by President Joe Biden’s pause on approvals for brand spanking new LNG export initiatives.
Generated by readers, the feedback included herein don’t replicate the views and opinions of Rigzone. All feedback are topic to editorial evaluation. Off-topic, inappropriate or insulting feedback might be eliminated.
MORE FROM THIS AUTHOR
Bloomberg