Challenging Conventional Thinking with Proven Results in the LNG Industry

HOUSTON–(BUSINESS WIRE)– Tellurian Inc. (Tellurian) (NASDAQ: TELL) and Gunvor Singapore Pte Ltd (Gunvor) announced today a liquefied natural gas (LNG) sales and purchase agreement (SPA) for three million tonnes per annum (mtpa) for a ten year period, indexed to a combination of two indices; the Japan Korea Marker (JKM) and the Dutch Title Transfer Facility (TTF), netted back for transportation charges. The LNG would be delivered free on board (FOB) from Tellurian’s Driftwood LNG, a 27.6 mtpa liquefaction facility proposed near Lake Charles, Louisiana in the United States Gulf Coast.

President and CEO ­­Octávio Simões said, “Tellurian intends to market up to 10 mtpa of LNG in our first phase on a JKM, TTF or blended price basis, as our integrated model provides the flexibility to offer this valuable product. We welcome Gunvor, the largest independent global trader of LNG volumes, to Driftwood and look forward to providing a cleaner fuel to meet growing global energy needs and enable energy access.”

Executive Vice President LNG Marketing & Trading Tarek Souki added, “Our business model creates significant value for Tellurian; at today’s LNG prices, this agreement represents the equivalent of approximately $12 billion in revenue over the 10-year term of the agreement.”

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WASHINGTON, D.C.— The U.S. Chamber’s U.S.-Korea Business Council (USKBC) announced today that Octávio Simões, president and chief executive officer of Tellurian Inc., has been elected chairman of the USKBC for a two-year term (2021-2022).

The USKBC is comprised of leading U.S. companies operating in Korea and is the primary U.S.-based business organization promoting strong economic ties between the two countries. The USKBC ensures that the U.S.-Korea Free Trade Agreement continues to deliver benefits to both economies and works to promote policies that support expanded bilateral trade and investment, innovation, and private sector-driven growth in both economies.

“The USKBC has continued to play a vital role in promoting a cooperative and mutually beneficial relationship between our two countries,” Simões said. “There are many opportunities to further the U.S.-Korea partnership and areas to explore for expanded cooperation – including public-private collaboration on the COVID-19 response; energy transition and climate; digital transformation; and supply chain resiliency. I look forward to driving progress in the USKBC’s advocacy agenda, and to being of service to both the U.S. and Korean business communities in promoting a strong bilateral commercial relationship.”

“The U.S. Chamber of Commerce is delighted to welcome Octávio Simões, president and CEO of Tellurian Inc., as the USKBC’s new chairman. We look forward to working with him to strengthen the U.S.-Korea economic and commercial relationship,” said Myron Brilliant, executive vice president and head of International Affairs at the U.S. Chamber. “Octávio brings a wealth of leadership, insight, and vision to his role as incoming USKBC chairman. His management and international business development experience and knowledge of the Korean market will play a pivotal role as he leads the Council’s advocacy agenda to enhance economic opportunities for U.S. companies.”

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HOUSTON–(BUSINESS WIRE)–Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that Executive Chairman Charif Souki will participate in a Fireside Chat at the Citi 2021 Global Energy & Utilities Virtual Conference on May 12, 2021 at 12:50 p.m. Eastern time. The live webcast will be accessible via this direct link.

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HOUSTON, Texas – (BUSINESS WIRE) May 5, 2021 — Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business, focusing on debt reduction during the first quarter of 2021. Subsequent to the quarter end, Tellurian made a voluntary $17 million debt repayment on April 23, 2021, and has now paid off all borrowing obligations.

President and CEO Octávio Simões said, “Tellurian now has a much stronger balance sheet and global customers continue to be very interested in our integrated, market-based liquefied natural gas (LNG) product offering as they build their portfolios with flexible, reliable and cleaner energy sources. Additionally, we are looking forward to expanding our drilling program in 2021, having recently spud a new well in the prolific Haynesville Shale, that we expect to provide valuable revenue.”

Operating activities

Tellurian produced 3.3 billion cubic feet (Bcf) of natural gas for the quarter ending March 31, 2021 as compared to 3.9 Bcf for the previous quarter. Tellurian’s upstream assets include 9,704 net acres and interests in 72 producing wells as of March 31, 2021.

Financial results

Tellurian ended its first quarter of 2021 with approximately $58.7 million of cash and cash equivalents and approximately $17.0 million in short-term borrowings (which was repaid in April 2021), and generated approximately $8.7 million in revenues from natural gas sales. Tellurian has a strong balance sheet consisting of approximately $270.3 million in total assets. Tellurian reported a net loss of approximately $27 million, or $0.08 per share (basic and diluted), for the three months ended March 31, 2021.

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