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Woodside to Acquire Tellurian, Boosting Global LNG Position

Author

Slice of Energy Team
July 23, 2024

Key Highlights:

  • Woodside to acquire Tellurian for $900 million in cash.

  • Includes the Driftwood LNG development opportunity in the US Gulf Coast.

  • Positions Woodside as a global LNG leader with expanded US footprint.

  • Strategic alignment with energy transition goals.

  • Expected completion by Q4 2024, pending regulatory approvals.

Source (Business Wire)

Notable Quote:

❝

"The acquisition of Tellurian and its Driftwood LNG development opportunity positions Woodside to be a global LNG powerhouse. Through this acquisition, we are delivering on our strategy to thrive through the energy transition."

Meg O’Neill, CEO at Woodside

Our Take:

Woodside's acquisition of Tellurian marks a significant strategic move in the LNG sector. By integrating the Driftwood LNG project, Woodside not only expands its geographical footprint but also strengthens its position as a leading independent LNG company. This acquisition aligns with Woodside’s strategy to thrive through the energy transition, leveraging its expertise to unlock the potential of the fully permitted Driftwood LNG development. The move is poised to create substantial value for shareholders, enhance marketing optimization opportunities across the Atlantic and Pacific Basins, and support Woodside’s commitment to reducing emissions. The acquisition's all-cash nature, valued at approximately $900 million, underscores the attractiveness of this investment, positioning Woodside for long-term growth and sustainability in the global energy market.