Despite Financial Uncertainty, Construction of $30 Billion Driftwood LNG Plant Set for April | News

LAKE CHARLES, Louisiana — Construction of the $30 billion Driftwood LNG liquefied natural gas production plant in Calcasieu Parish is set to begin in April, although financing for the project has not been fully consolidated, according to the executive chairman of the company behind the installation. .

“We have enough capital, or access to enough capital, to make sure we can complete the first year of construction,” Charif Souki, executive chairman of Houston-based Tellurian Inc., said in a video on the site. Company website.

Souki said emphatically that Tellurian’s board of directors felt comfortable enough to move forward with construction as the financial issues were ironed out.

“The board felt comfortable enough that we got the funding quickly, and maybe before we started construction,” he said. “But we are not going to rush through this process. We will ensure that the right financing is in place. »

Souki said Tellurian has signed 45 nondisclosure agreements with lenders interested in backing the project. “It’s like keeping cats,” he added.

Tellurian officials predict the project will create about 400 direct jobs and 6,500 construction jobs.

Learn more about the LNG plant from our news partner the lawyer.

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