Despite financing uncertainty, construction on $30B Driftwood LNG plant set for April | News

LAKE CHARLES, La. – Construction on the $30 billion Driftwood LNG liquefied natural gas production plant in Calcasieu Parish should begin in April, even though financing for the project hasn’t quite been solidified, according to the executive chairman of the company behind the facility .

“We have enough capital, or access to enough capital, to make sure that we can do the first-year worth of construction,” Charif Souki, executive chairman of Houston-based Tellurian Inc., said in a video on the company’s website.

Souki emphatically stated that Tellurian’s board felt comfortable enough to move forward with construction as the financial wrinkles are ironed out.

“The board felt comfortable enough that we would get the financing in short order, and possibly before we have to start construction,” he said. “But we will not rush through that process. We will make sure that we get the right financing put in place.”

Souki said Tellurian has signed 45 nondisclosure agreements with lenders who are interested in backing the project. “This is like herding cats,” he added.

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

Read more about the LNG plant from our news partner The Advocate.

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