Williams Has No Plans to Take Over Natural Gas Company Tellurian

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Williams Companies has said that it has no plans to acquire the struggling LNG company Tellurian, although it did consider a bid.

Williams Companies has no plans to acquire Tellurian although it did consider a bid for the struggling LNG project developer. The statement, as carried by Reuters, follows a report about Tellurian saying that the company was considering a sale as one of its options, as it struggles to keep its Driftwood LNG project viable after failing to secure funding from long-term buyers. It is this lack of long-term buyers that made Williams decide to reconsider the option of buying Tellurian.

6 million tons of liquefied natural gas annually and will not be subject to the recent pause in LNG export capacity approvals enacted by the Biden administration. There is a potential to expand this to 60 million tons annually. The project has a price tag of some $25 billion, of which Tellurian has already spent around $1 billion, with construction at around 30% of completion, according to a recent corporate presentation.

 

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