Tellurian posted rise in net losses as it pitched for Indian investment in Driftwood LNG project
Tellurian Inc., the developer of Driftwood LNG project on the US Gulf Coast and whose executives were in India pitching for an investment by Indian company Petronet, posted a 20 percent increase in 2019 net losses as the development and marketing process continued.
US LNG developer Tellurian launches open season for Permian Global Access Pipeline
Tellurian Inc. developer of the Driftwood LNG project in Louisiana backed by companies such as French energy major Total, has launched an open season for its Permian Global Access Pipeline to secure prospective customers.
The Permian Global Access project is a proposed 42-inch diameter inter-state natural gas pipeline originating at the Waha Hub in Pecos County in Texas and terminating at Gillis in Louisiana, north of Lake Charles where the liquefaction plant will be constructed.
The final environmental impact statement was issued by the US Federal Energy Regulatory Commission in January 2019 to develop the Driftwood liquefaction plant to produce around 27.6 million tonnes per annum of LNG.
The pipeline will connect the prolific Permian Basin in Texas to the rapidly growing natural gas market in southwest Louisiana.
“It will cost approximately $3.7 billion to construct and will have the capacity to transport at least two billion cubic feet of natural gas a day,” said Tellurian.
“Construction could begin as early as 2021 and the pipeline is targeted to be in service as early as 2023,” added the company.
Tellurian is also developing a second pipeline venture called the Haynesville Global Access Pipeline at around the same cost.
In addition to spending $7.4Bln on the two pipelines, Tellurian is developing the liquefaction plant near Lake Charles with total investments of around $15.2Bln and the provision of about 15,000 jobs.
“Permian producers have recently paid $9.00 per million British thermal units to move their natural gas away from the wellhead, reflecting the acute need for infrastructure development in the Basin,” said Tellurian Chief Executive and President Meg Gentle.
“By contrast, Southwest Louisiana is a market expected to grow 300 percent in the next five years,” added Gentle.
“The Permian Global Access Pipeline is critical infrastructure that will interconnect stranded Permian gas production with growing markets, reduce flaring and provide a valuable cleaner fuel to reduce urban pollution and carbon globally,” stated the CEO.
The open season was scheduled to begin at noon Central time on April 8 and runs to Friday, May 24.
Tellurian said it would encourage interested parties to contact Joey Mahmoud, President of the Permian Global Access Pipeline project, at the pipeline company website.
The pipeline open season follows recent advances in the LNG project with Total signing two accords to invest more in the development company and to take its supply requirements from the venture to 2.5 MTPA of LNG.
The sales agreement will be for the purchase of free-on-board (FOB) whereby Total supplies the shipping and for a minimum term of 15 years and based on the Platts Japan Korea Marker (JKM) price.
Total’s equity agreement gives the French company an additional 20 million shares of Tellurian common stock for an amount of $200 million, adding to its previous investment.
Tellurian LNG project in Louisiana expects to have six partners confirmed by investment time
Tellurian Inc., developer of the Driftwood LNG export project in Louisiana, is expecting to have about six customer-partners when it takes its final investment decision for the first phase of the joint venture near Lake Charles that will cost a total of $30 billion.
US Driftwood LNG developer to reveal investors and buyers soon from 35 interested parties
Tellurian Inc., developer of the Driftwood LNG export plant in Louisiana, said it advanced the sale of LNG and Driftwood partnership interests with around 35 customers and potential partners conducting due diligence and would announce the investor and buyer list by year-end.
Tellurian prices share sale amid progress on Driftwood LNG plant and pipelines in Louisiana
Tellurian Inc., developer of the Driftwood LNG export project in Louisiana, has priced a public offering of its Nasdaq-listed shares to raise almost $120 million as it continues with its large-scale liquefaction and pipeline plans on the Gulf Coast.
US Driftwood LNG project says 20 companies have shown interest in being venture partners
Tellurian Inc., the developer of the Driftwood LNG export plant in Louisiana and associated infrastructure and resources such as pipelines and natural gas production, said it expected to identify its joint venture partners soon as more than 20 companies had shown an interest.
US LNG engineering firm Bechtel takes stake in Louisiana export plant developer Tellurian
Tellurian Inc., the US LNG and gas pipeline project developer, said that the world’s leading LNG and energy engineering company Bechtel Oil, Gas and Chemicals had made a $50 million investment in the company.
Tellurian launches $100M share sale to fund initial engineering for Driftwood LNG plant
Tellurian Inc., the developer of the Driftwood LNG project on the Gulf Coast of Louisiana, has launched a public offering of its shares to raise at least $100 million mainly for initial engineering costs as it advances with its project for a liquefaction plant and affiliated pipeline.
Subsidiary of Driftwood LNG developer Tellurian and director Martin Houston settle US lawsuit
Tellurian Investments Inc., a subsidiary of the Driftwood LNG development company Tellurian Inc., and former BG Group executive Martin Houston, a Tellurian director, have settled a $168 million lawsuit filed by two dissatisfied investors.
French major Total makes $207M investment in US LNG developer of former Cheniere CEO
French energy company Total has acquired a substantial stake in the LNG development firm, Tellurian Investments, set up by former Cheniere Energy Chief Executive Chafir Souki.
