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Tellurian and Petronet sign MOU for up to 5 million tonnes of LNG through equity investment in Driftwood. Hear about the future in a new #CHATwithTELL.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) and Petronet LNG Limited INDIA (PLL) announced today that the two companies have signed a Memorandum of Understanding (MOU) wherein Petronet and its affiliates intend to negotiate the purchase of up to five million tonnes per annum (5 mtpa) of liquefied natural gas (LNG) from Driftwood, concurrent with its equity investment, which remains subject to further due diligence and approval of its board of directors. Tellurian and Petronet will endeavor to finalize the transaction agreements by 31 March 2020.

President and CEO Meg Gentle said, “Petronet, India’s largest LNG importer, will be able to deliver clean, low-cost, and reliable natural gas to India from Driftwood. Increasing natural gas use will enable India to fuel its impressive economic growth to achieve Prime Minister Modi’s goal of a $5 trillion economy while contributing to a cleaner environment. It is an honor to sign the MOU with Petronet in the presence of H.E. Prime Minister Narendra Modi. At Tellurian, we look forward to a long and prosperous partnership with Petronet in the Driftwood project.”

The Driftwood project includes natural gas production, gathering, processing, and transportation facilities, along with Driftwood LNG, a proposed ~27.6 mtpa liquefaction export facility that will be located near Lake Charles, Louisiana on the U.S. Gulf Coast. In April, the U.S. Federal Energy Regulatory Commission (FERC) issued the order granting authorization for Driftwood LNG and the 96-mile Driftwood Pipeline, which will inter-connect the LNG terminal to the U.S. natural gas market.

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A new presentation is available for Tellurian Inc. (NASDAQ: TELL). The presentation will include forward-looking information.

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The pace of hydrocarbon production growth in the Permian has been astonishing. Oil is the driving factor … listen to Thierry Bros, VP Research in a new #CHATwithTELL.

A new presentation is available for Tellurian Inc. (NASDAQ: TELL). The presentation will include forward-looking information.

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CEO Meg Gentle to participate in @Barclays CEO Energy–Power Conference 2019 webcast Wednesday, September 4th at 3:45 p.m. EST.
Pre-register here for the webcast.

A new LNG fundamentals presentation is available.

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A new corporate presentation is available for Tellurian Inc. (NASDAQ: TELL). The presentation will include forward-looking information.

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Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business. Notable Tellurian achievements during the second quarter of 2019 and thereafter:

Commercial

• Entered into definitive agreements with subsidiaries of Total S.A. (Total) for a $500 million equity investment in Driftwood Holdings LP, and related purchase of liquefied natural gas (LNG). These agreements are filed with Tellurian’s second quarter 10-Q filing. Along with Total’s previously announced agreement to purchase approximately $200 million of Tellurian common stock, Total’s aggregate investment in the Tellurian portfolio will be approximately $907 million at final investment decision (FID) for Driftwood.
• Continue to advance negotiations for the sale of LNG and interests in Driftwood Holdings with several counterparties.
• Secured $75 million term loan for general corporate purposes.

Regulatory

• Received all major permits required for construction and operation of the Driftwood terminal and pipeline.

Pipeline

• Completed binding open seasons for the Permian Global Access Pipeline (PGAP), the Haynesville Global Access Pipeline (HGAP), and the Delhi Connector Pipeline (DCPL), all resulting in over-subscribed indications of interest. Tellurian anticipates finalizing precedent agreements and beginning the pre-filing process with the Federal Energy Regulatory Commission (FERC) in the next quarter for PGAP.

President and CEO Meg Gentle said, “Total’s commitment and investment in Tellurian has set an international standard for a joint venture partnership that will deliver low-cost U.S. LNG supply to the world beginning in 2023. Tellurian has executed a thorough set of documents and we are using those as a template to secure further agreements with partners. We are preparing to launch the project finance debt syndication which we expect to take the remainder of the year.”

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