GE Oil & Gas has invested a USD $25 million equity stake in Tellurian Investment’s Driftwood liquefied natural gas project. Houston-based Tellurian was founded in early 2016 by Cheniere Energy Chief Executive Officer Charif Souki and former Parallax Energy head Martin Houston. The company is working to develop LNG projects along the Gulf Coast.
Driftwood is a joint effort between the two companies on which construction is scheduled to begin in 2018 and operations are to start in 2022, according to Tellurian. Tellurian officials said this year that the new facility would be built near Lake Charles, Louisiana, and the company would raise USD $12 billion to finance the project.