U.S. liquefied natural gas developer Tellurian Inc plans to start construction on its $16.8 billion Driftwood LNG plant in Louisiana in April, Chairman Charif Souki said on Tuesday.
The company has access to enough capital to handle the first year of plant construction, Souki told Reuters in a Tuesday interview.
“You’re going to have to wait until we put our financial statements out in about two weeks,” he said in response to a question on capital available to finance the work.
The first phase of Driftwood construction is designed to process 11 million tonnes per year (mtpa) of LNG. First delivery could take place in 2026, Souki said. Future phases would bring the plant’s full capacity to 27.6 mpta.
Project financing of $12 billion for the next five years will consist of about two-thirds debt and one third equity, Souki said.
“Given everything that is happening in the world, it is critical that the (LNG) projects are accelerated as much as possible,” Souki said.
Source: Reuters (Reporting by Marcy de LunaEditing by Chris Reese)