Challenging Conventional Thinking with Proven Results in the LNG Industry
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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).
April 29, 2019 PRESS RELEASE | Tellurian Announces Binding Open Seasons for the Haynesville Global Access Pipeline and the Delhi Connector Pipeline
Tellurian announced today separate binding open seasons on two proposed pipelines that will connect areas of constrained shale production and debottleneck natural gas pipeline infrastructure, further enabling the rapidly growing industrial market in Southwest Louisiana.
Tellurian’s subsidiary Haynesville Global Access Pipeline LLC is seeking to secure prospective shippers for a previously announced natural gas pipeline, the Haynesville Global Access Pipeline (HGAP). HGAP is expected to be a 42-inch diameter, approximately 160-mile interstate pipeline that will interconnect existing pipeline and production facilities in DeSoto Parish to the existing and proposed infrastructure located near Gillis in Calcasieu Parish, Louisiana. HGAP is estimated to cost just over one billion dollars to construct and will have the capacity to transport up to two billion cubic feet of natural gas per day (bcf/d). Construction is projected to begin in 2022, with an in-service date of mid-2023.
Tellurian’s subsidiary Delhi Connector Pipeline LLC is also conducting a binding open season to secure prospective shippers for its newly proposed Delhi Connector Pipeline (DCPL). DCPL is expected to be a 42inch diameter, approximately 180-mile interstate pipeline connecting the Perryville/Delhi Hub in Richland Parish, Louisiana to Gillis, Louisiana. DCPL is estimated to cost approximately $1.4 billion to construct and will have the capacity to transport at least two bcf/d of natural gas. Construction is projected to begin as early as 2021, with an in-service date as early as 2023. These two binding open seasons are in addition to Tellurian’s previously announced Permian Global Access Pipeline binding open season.
President and CEO Meg Gentle said, “Tellurian has recognized the critical need we have in the United States for additional natural gas infrastructure that can leverage our country’s prolific shale resources. We are willing to invest and build a pipeline network that connects to key U.S. producing shale basins, detangling the existing pipeline and regional bottlenecks and facilitating the flow of natural gas to feed Southwest Louisiana’s growing industrial demands, which is estimated at 20+ bcf/d by 2025.”
April 25, 2019 NEW! CHAT with TELL | Corporate update
Meg Gentle, CEO delivers our Corporate Update with a nod to our recent 2019 successes.
April 18, 2019 PRESS RELEASE | Tellurian’s Driftwood Receives Order Granting Authorization From FERC
Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that the U.S. Federal Energy Regulatory Commission (FERC) has issued the 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).
President and CEO Meg Gentle said, “Tellurian thanks FERC and other state and federal agencies for their diligence and for working alongside our team over the past three years to ensure that we bring the Driftwood project to the market safely and efficiently. We look forward to beginning construction and delivering first LNG in 2023.”
April 9, 2019 NEW! CHAT with TELL | #Strategically planning the next wave – Part 2
Where is the release valve for the prolific U.S. natural gas? Louisiana, the home of our proposed Driftwood LNG project.
LNG answers more than urban pollution. Building U.S. pipeline infrastructure and export facilities help Permian producers find an outlet for their associated gas. Listen to our team talk efficiencies and alternatives to help slow climate change – and hear their Market Commentary live!