LNG Powerhouse: Woodside to Acquire Texan Company for $1.35 Billion

Published on July 23, 2024

Woodside has agreed to acquire U.S. liquified natural gas (LNG) developer Tellurian for US$900 million (A$1.36 billion) in an all-cash transaction, as it aims to become a global LNG powerhouse. The Australian energy giant announced on July 22 that the deal for the Houston-based company came at $1 per share, which was a 75 percent premium to its closing stock price on the New York exchange on July 19. Tellurian faced difficulties securing funds for its Driftwood LNG project in Lake Charles, Louisiana. Its deals to sell LNG to oil and gas giant Shell and commodity trading company Vitol fell apart in 2022. It then struggled to bring on board an equity investor partner....

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