Tellurian Inc. announced that Bechtel Oil, Gas and Chemicals, Inc. made a $50 million preferred equity investment in their company.
Leadership from both Bechtel and Tellurian agree that the two entities have been partnering for years and now they are ready to enhance their corporation with an equity partnership. Prior to the investment, the two companies worked together in the construction of 55 mtpa of LNG capacity.
This equity investment announcement comes soon after both companies signed agreements for $15.2 billion worth of turnkey operations in 2017 for Driftwood. Driftwood is an LNG exportation site expected to be near Lake Charles, Louisiana and is forecasted to launch in 2019.
Bechtel is no stranger to LNG. Nearly one-third of all LNG across the globe is produced in a facility constructed by Bechtel.
