Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that it has signed a Memorandum of Understanding (MOU) with Petronet LNG Limited INDIA (PLL) wherein PLL is exploring the possibility of investment in the Driftwood project, which includes a proposed liquefied natural gas (LNG) terminal, along with natural gas production, gathering, processing and transportation facilities.
President and CEO Meg Gentle said, “Petronet is India’s largest LNG importer, operating 20 million tonnes per annum (mtpa) of receiving terminal capacity with an additional 2.5 mtpa of capacity under construction at its Dahej expansion and a further 5 mtpa proposed at Gangavaram. We support Petronet’s vision to be a key energy provider to India and look forward to delivering clean, low-cost and reliable natural gas from Driftwood LNG.”
Driftwood LNG is a proposed ~27.6 mtpa liquefaction export facility that will be located near Lake Charles, Louisiana on the U.S. Gulf Coast, and Driftwood Pipeline is the 96-mile proposed pipeline connecting to the facility. Driftwood LNG and Driftwood Pipeline have received the final Environmental Impact Statement (EIS), and Tellurian expects to make a final investment decision and begin construction in the first half of 2019.