Challenging Conventional Thinking with Proven Results in the LNG Industry
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July 10, 2019 PRESS RELEASE | Total and Tellurian Finalize Driftwood Equity Investment and LNG Purchase Agreements
Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that it has entered into definitive agreements with Total Delaware, Inc. (Total) and Total Gas & Power North America, Inc. (Total Gas & Power), subsidiaries of Total S.A., for Total Gas & Power to purchase one million tonnes per annum (mtpa) of liquefied natural gas (LNG) from the Driftwood LNG terminal (Driftwood) and for Total to invest $500 million in Driftwood Holdings LP. In addition, Tellurian and Total Gas & Power entered into a definitive sales and purchase agreement for an additional 1.5 mtpa of LNG from Tellurian’s LNG offtake volumes from Driftwood. The SPA is for the purchase of LNG free on board at a price based on the Platts Japan Korea Marker. The definitive agreements are consistent with the terms contemplated by the Heads of Agreement announced on April 3, 2019, and are subject to certain closing conditions, including the final investment decision (FID) to construct Driftwood.
President and CEO Meg Gentle said, “The agreements we have executed with Total confirm the business model for the Driftwood project, establishing it as an LNG joint venture partnership with an implied value of $13.8 billion. The Tellurian team thanks Total for their leadership and we look forward to beginning the largest privately funded U.S. infrastructure project. We intend to finalize the agreements with the remaining partners and make FID in 2019. At full capacity, Driftwood will be capable of exporting approximately 4 billion cubic feet per day of natural gas, providing solutions for the acute U.S. oversupply and delivering cleaner air to the world.”
July 10, 2019 NEW! CHAT with TELL | Meg Gentle on The #Stock Podcast
Meg Gentle, President and & CEO, joins Nate Abercrombie, host of The Stock Podcast, to discuss energy exports, security and what it all means to bring balance and freedom to worldwide economic growth – with a mission to deliver clean air. Listen to this new #CHATwithTELL.
June 27, 2019 NEW! CHAT with TELL | LNG #trends
Join the #LNG discussion on U.S. and global gas fundamentals with our Research and Fundamentals team in another #CHATwithTELL.
June 7, 2019 New! CHAT with TELL | EU #fuel mix
Thierry Bros, VP of #Research at #Tellurian and Senior Research Fellow at the #Oxford Institute for #Energy Studies chats on European fuel mixing and where natural gas fits in.
May 29, 2019 New! CHAT with TELL | EU #pricing transformation
Mechanisms for pricing EU natural gas may not be as they seem. Join Thierry Bros, VP of #Research at #Tellurian and Senior Research Fellow at the #Oxford Institute for #Energy Studies while he discusses the #transformational European market in a #CHATwithTELL.
May 21, 2019 New! CHAT with TELL | #European market research
Thierry Bros, VP of Research at Tellurian and Senior Research Fellow at the Oxford Institute for Energy Studies discusses developments and logic behind the liquid European gas market.
May 13, 2019 New corporate presentation for Tellurian Inc. (NASDAQ: TELL)
A new corporate presentation is available for Tellurian Inc. (NASDAQ: TELL). The presentation will include forward-looking information.
May 8, 2019 PRESS RELEASE | Tellurian reports first quarter 2019 results
Tellurian Inc. (Tellurian) (NASDAQ: TELL) continued to build its integrated global natural gas business during the first quarter of 2019. Notable Tellurian achievements:
Signed a Heads of Agreement (HOA) with a subsidiary of Total S.A. (Total) for a $500 million equity investment in the integrated Driftwood project, for the right to purchase 1 million tonnes per annum (mtpa) of liquefied natural gas (LNG) and for a 15-year sales and purchase agreement (SPA) with a right to acquire an additional 1.5 mtpa of LNG at Japan Korea Marker (JKM) prices
Executed a common stock purchase agreement (CSPA) with Total for approximately 19.9 million shares of Tellurian common stock for approximately $200 million, subject to reaching a final investment decision (FID) on the Driftwood project and other closing conditions
Entered into an agreement with an unrelated third-party merchant pursuant to which Tellurian has committed to purchase one cargo of LNG per quarter beginning in June 2020 through October 2022; each cargo is expected to range from 3.3 to 3.6 million mmBtu and will be purchased under delivered ex-ship (DES) terms with the price being based on the JKM price in effect at the time of purchase
Further advanced the sale of LNG and Driftwood Holdings’ partnership interests; completing agreements with potential partners including Total and Petronet LNG Limited INDIA
Received the order granting authorization for the Driftwood project from the U.S. Federal Energy Regulatory Commission (FERC) (includes Driftwood LNG, a proposed ~27.6 mtpa liquefaction export facility, and the associated Driftwood pipeline, a 96-mile proposed pipeline connecting to the facility
Received the Department of Energy, Office of Fossil Energy (DOE/FE) order granting export authorization to non-free trade (non-FTA) agreement countries
Received the Section 10/Section 404 permit authorizing activities within U.S. waters from the U.S. Army Corps of Engineers (USACE)
Announced binding open seasons for three pipelines intended to connect constrained shale production and debottleneck other natural gas pipeline infrastructure (includes the Permian Global Access Pipeline (PGAP), the Haynesville Global Access Pipeline (HGAP), and the Delhi Connector Pipeline (DCPL))
President and CEO Meg Gentle said, “Tellurian is now permitted to construct, operate, and export LNG from the Driftwood project and has a fully articulated engineering, procurement and construction (EPC) plan in place with guaranteed schedule, performance and cost from Bechtel. Our primary focus for the next quarter is finalizing the Driftwood partnership financing. Total has committed as the first partner of Driftwood and we expect to execute final agreements with them by mid-June. We remain on schedule to produce LNG in 2023 and generate $8.00 of cash flow per share after ramp up.”
May 2, 2019 PRESS RELEASE | Tellurian’s Driftwood LNG receives authorization for LNG exports
Tellurian (NASDAQ: TELL) announced today that the United States (U.S.) Department of Energy (DOE) Office of Fossil Energy has issued the long-term authorization for Driftwood LNG to export domestically produced liquefied natural gas from its proposed export facility to non-free trade agreement countries.
U.S. Secretary of Energy Rick Perry said, “I am pleased to announce the order signed today authorizing Driftwood, owned by Tellurian Inc., to export up to 3.88 billion cubic feet per day of natural gas as LNG, to any country that does not have a free trade agreement (FTA) with the United States. The United States is now in its third consecutive year as a net exporter of natural gas, now exporting domestic LNG to 35 countries. I applaud the American private sector for continuing to reach new milestones and look forward to continued growth in this sector.”
“Tellurian thanks the U.S. Administration, Secretary Perry and the DOE staff for their diligence in authorizing this order that is crucial to global LNG trade. The U.S. will become a top three LNG exporter and Tellurian intends to do our part in creating U.S. jobs while delivering a cleaner energy supply source to the world,” said Tellurian President and CEO Meg Gentle.
On April 18, 2019, Tellurian completed another regulatory milestone as the U.S. Federal Energy Regulatory Commission (FERC) issued an order granting authorization for Driftwood LNG, a proposed ~27.6 million tonnes per annum (mtpa) liquefaction export facility near Lake Charles, Louisiana, and the associated Driftwood pipeline, a 96-mile proposed pipeline connecting to the facility (collectively, the Driftwood project).