Bechtel invests $50 mln in Tellurian
LNG engineer, Bechtel has made a $50 million equity investment in Tellurian, the Houston-based company developing the Driftwood liquefied natural gas project in Louisiana.
Speaking of the investment, Tellurian’s president and CEO, Meg Gentle said, “Bechtel and Tellurian management have constructed 55 million tonnes per annum (mtpa) of liquefaction capacity together on various projects and have formed a respected and productive relationship.”
She added that strategic partners like Bechtel, GE and Total will push the project towards breaking ground in 2019.
In November 2017, Tellurian and Bechtel signed four fixed price, lump sum turnkey agreements totaling $15.2 billion for EPC of Driftwood, the 27.6 mtpa liquefied natural gas (LNG) export facility proposed near Lake Charles, Louisiana.
According to that agreement, Driftwood LNG will be constructed in four phases, with each phase beginning operations on a staggered basis.
The first phase will have an 11 mtpa production capacity from eight units together with storage tanks one and two and the first loading berth.
The subsequent three phases to be developed will each bring an additional 5.5 mtpa of production capacity from four units, with loading berths two and three to be constructed in the second and third phase, that will also see the construction of the remaining storage tank.