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Tellurian is eyeing a final investment decision for the first two trains of the Driftwood LNG plant by the end of this year.
The news comes shortly after the Federal Energy Regulatory Commission granted the company a three-year extension of its long-delayed construction permit for the Driftwood project.
Tellurian said in a corporate presentation this week that construction work is already underway at Driftwood, and that a final investment decision on the third train at the facility in Lake Charles, Louisiana, will be made within six to nine months of the FID. He added that a decision is expected to be made in due course. The first two trains.
The Driftwood project is expected to produce 27.6 million tons of liquefied natural gas annually and is not subject to the recent moratorium on LNG export capacity approvals enacted by the Biden administration. This could be expanded to 60 million tons per year.
The Driftwood project is valued at about $25 billion, of which Tellurian has already spent about $1 billion and construction is about 30% complete, according to a company presentation.
Driftwood LNG will consist of five liquefaction trains and the first phase of development will add 11 million tons of LNG per year to total U.S. production. EIA said in last year’s Annual Energy Outlook 2023 that the total operating capacity of U.S. LNG export facilities under actual operating conditions is currently 11.4 billion cubic feet per day.
An additional 7.3 billion cubic feet per day of LNG export capacity is under construction, and an additional 18.3 billion cubic feet of LNG export capacity has received full regulatory approval from the U.S. Department of Energy and the Federal Energy Regulatory Commission, but is not yet finalized. approval has not been obtained. Investment decision.
The United States became the world’s largest LNG exporter last year, with global LNG exports increasing 3%, Kpler reported last month. The global total was 412.44 million tons, of which the United States contributed 86.15 million tons.
Written by Irina Slav for Oilprice.com
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