Driftwood construction could begin this summer

(Courtesy Tellurian Inc.) An artist's rendering of the proposed Driftwood LNG facility near Lake Charles.

Tellurian could begin building its $16.8 billion liquefied natural gas terminal in Lake Charles this summer, The Houston Chronicle reports.

In a podcast posted on Tellurian’s website earlier this month, co-founder and executive chairman Charif Souki said he is “highly confident” construction would get underway on Driftwood LNG this summer, an important milestone for the company.

Driftwood would process and export a total of 27.6 million metric tons of LNG per year upon its expected completion in 2026.

“I can’t describe the high that we feel at Tellurian today because we have caught the wave and we’re getting ready for the ride of a lifetime,” Souki said in the podcast.

In the past few weeks, Tellurian has finalized LNG sales-and-purchase agreements with energy traders Vitol and Gunvor. Each deal is worth about $12 billion in revenue over the contract period. Driftwood LNG is a proposed 27.6-mtpa LNG production and export terminal on the west bank of the Calcasieu River, south of Lake Charles.

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