Tellurian Acquisition Finalized as Woodside Takes Control

The independent chapter for Tellurian Inc. has closed. The liquefied natural gas (LNG) pioneer has been formally delisted following its multi-billion dollar acquisition by Australian energy giant Woodside Energy Group, which was finalized in the fourth quarter of 2024. The deal shifts focus to the future of the ambitious Driftwood project under its new owner.

• Acquirer: Woodside Energy Group (Closed Q4 2024)
• Transaction Value: $1.00 per share (approximately $900 million equity value)
• Core Asset: Driftwood LNG facility (renamed Woodside Louisiana LNG)
• Key Development: Final Investment Decision (FID) reached in April 2025

Strategic Sale Concludes Market Journey

Woodside’s purchase of Tellurian was an all-cash transaction, valuing the company’s equity at around $900 million. When including assumed debt, the total enterprise value reached approximately $1.2 billion. Shareholders approved the merger in October 2024, leading to the removal of Tellurian’s stock from the NYSE American exchange.

Prior to the sale, Tellurian had moved to strengthen its financial position. In a July 2024 agreement, the company sold its upstream assets to Aethon Energy Management for $260 million. Proceeds were primarily used to retire $230 million in senior secured notes that were scheduled to mature in 2025.

Should investors sell immediately? Or is it worth buying Tellurian?

Driftwood Project Advances Under New Brand

The centerpiece of the former company, the Driftwood LNG export terminal in Louisiana, now operates as Woodside Louisiana LNG. The site is designed for a total capacity of 27.6 million tonnes per annum (Mtpa). Under Woodside’s leadership, a final investment decision for the first phase was made in April 2025. This initial phase encompasses a capacity of 16.5 Mtpa.

Construction work is already underway. Recent activities have focused on driving pilings for the first two production trains and preparing the foundational work for the facility.

Regulatory Timeline and Next Steps

While the U.S. Federal Energy Regulatory Commission (FERC) has extended the project’s construction deadline by three years to April 2029, important regulatory milestones remain. The existing export authorization from the U.S. Department of Energy (DOE) requires Woodside to file a renewal application by May 2026 for shipments to non-Free Trade Agreement nations. This deadline represents the next significant regulatory hurdle for the site’s long-term export strategy.