According to reports, Tellurian Inc. has delayed a final investment decision on the Driftwood LNG facility in Louisiana to 2021 with the plant beginning operations in 2024, not in 2023 as had been planned. A final investment decision was been expected later this year.
Full operations would begin at the giant plant near Lake Charles, Louisiana, in 2026 or 2027.
The Texas-based company also said it may defer the construction of its proposed $2.2 billion Permian Global Access Pipeline because there is less drilling in that area of West Texas and New Mexico.
According to reports, the announcements came by webcast and not in any company statements nor in the company’s PowerPoint presentation.
In recent months, spot prices of LNG delivered to Asia have collapsed, swinging the market in favor of LNG buyers.
The proposed LNG liquefaction/export facility remains financially viable and ready for construction.