Post Tagged with: "Driftwood LNG"

Source: Royal Dutch Shell

Total Invests $500 Million in Tellurian, Enters Into LNG SPA

By Tyler Losier, Energy Reporter, Oil & Gas 360 Total commits to purchasing an aggregate of 2.5 Mtpa Total S.A. (stock ticker: TOT), through its subsidiaries Total Delaware and Total Gas & Power North America, has entered into a definitive agreement to purchase 1 Mtpa from Tellurian’s (stock ticker: TELL) Driftwood LNG terminal. Total will also invest $500 million in Tellurian subsidiary Driftwood Holdings L.P. In addition, Total Gas & Power has entered into a sales and purchase agreement (SPA) with Tellurian to acquire an added 1.5 Mtpa of 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. Source: Driftwood LNG The terms of the… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Newest FERC Approval Puts Tellurian’s Driftwood LNG on Track for 2019 FID, Construction Start

Newest FERC Approval Puts Tellurian’s Driftwood LNG on Track for 2019 FID, Construction Start

Tellurian’s Driftwood Receives Order Granting Authorization From FERC

April 18, 2019 - 11:02 am Closing Bell Story, LNG, Press Releases
Tellurian is sharply cutting the equity buy-in for potential partners in a bid to make its business model to finance construction of its proposed Driftwood LNG export terminal more attractive.

Tellurian Courts Middle East Investor Capital for its $30-Billion Driftwood LNG Project in Louisiana

From National Business U.S. energy company expects FID in first half of 2019 US energy firm Tellurian is looking to partner with investors from the Middle East for its planned $30 billion (Dh110.1bn) Driftwood liquefied natural gas project and aims to finalize its investment decision by the first half of this year. “We are looking forward to bringing in partners as shareholders in the project who will then receive their LNG at the cheapest rates in the world for LNG out of the US,” Tellurian senior vice president for marketing Amos Hochstein told The National on the sidelines of the Middle East Petroleum & Gas Conference in Dubai. “We are talking to those partners now,” he said, declining to name the potential investors. Driftwood LNG, owned by Tellurian, is developing an LNG production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. Once finished, the[Read More…]

April 12, 2019 - 7:42 am Closing Bell Story, Energy News, Finance, LNG
Tellurian’s Driftwood LNG Gets Final Environmental Nod

Tellurian’s Driftwood LNG Gets Final Environmental Nod

From Reuters Tellurian Inc’s proposed Driftwood liquefied natural gas (LNG) project in Louisiana took a major step forward on Friday as the U.S. federal energy regulator issued a final environmental report clearing the way for the company to seek a permit to build the export terminal. The company said it now needs an order from the Federal Energy Regulatory Commission (FERC) allowing the construction and operation of the 27.6 million tonn per annum (mtpa) liquefaction plant aimed at meeting growing global demand for the supercooled fuel. “Tellurian will then stand ready to make a final investment decision and begin construction in the first half of 2019, with the first LNG expected in 2023,” said Tellurian Chief Executive Meg Gentle in an statement. In the report, known as a final environmental impact statement, FERC staff concluded that the Driftwood LNG project “would result in adverse impacts on the environment; however, impacts[Read More…]

January 21, 2019 - 11:37 am Closing Bell Story, Energy News, LNG, Natural Gas News
Louisiana Debates Whether Tax Exemption Given to Tellurian’s Driftwood LNG Project Is Worth the Cost

Louisiana Debates Whether Tax Exemption Given to Tellurian’s Driftwood LNG Project Is Worth the Cost

Competing with Texas for big energy projects is costly From KPLC TV News LAKE CHARLES, LA (KPLC) – Does Louisiana get enough bang for its buck when it gives big industry property tax exemptions? For decades, there’s been debate about whether the trade-off is worth it when Louisiana gives billions of dollars in tax breaks to lure major industry to come here. The latest the Driftwood LNG Project owned by Tellurian. Since 2016, the police jury, school board and sheriff’s department get a say in whether the exemptions should be granted. Teri Johnson, who heads Calcasieu Federation of Teachers admits it’s a complicated issue. “What is Texas offering? What is Arkansas offering? Those type of issues all go in. So. it’s a very convoluted area for this tax exemption,” said Johnson. Johnson is concerned Calcasieu Parish may give away too much for too little. “I do think we’re giving away the farm. It’s kind of like, if[Read More…]

December 21, 2018 - 12:06 pm Closing Bell Story, Energy News, LNG
Tellurian is sharply cutting the equity buy-in for potential partners in a bid to make its business model to finance construction of its proposed Driftwood LNG export terminal more attractive.

Tellurian Receives $25 Million Equity Infusion from GE Oil & Gas

Tellurian and its Driftwood LNG export project move forward Tellurian Investments Inc. announced that GE Oil & Gas has made a $25 million preferred equity investment in Tellurian Investments with an implied Tellurian common stock value of $5.94 per share. Tellurian is in the engineering design and pre-filing stage for a proposed 26 million tonnes per annum Driftwood LNG export facility to be located in Calcasieu Parish, Louisiana, on the U.S. Gulf coast. Tellurian was co-founded by two well known LNG veterans, Charif Souki and Martin Houston. The Federal Energy Regulatory Commission (FERC) approved Driftwood LNG’s pre-filing request on June 6, 2016. Tellurian expects construction to begin in 2018 and targets the project to become operational in 2022. GE made big news in the U.S. energy space last month when it announced that its GE Oil & Gas was combining with Baker Hughes Inc., resulting in a $32 billion oil[Read More…]

November 28, 2016 - 1:58 pm Closing Bell Story, LNG, Oil and Gas 360 Articles, People
LNG on the Move: Magellan Files S-3 for $500 Million

LNG on the Move: Magellan Files S-3 for $500 Million

Tellurian+Magellan merger is expected to close Q4 On October 11, Magellan Petroleum (ticker: MPET) filed an S-3 Registration Statement with the SEC paving the way to sell up to $500 million in common stock, warrants and units, the proceeds to be used for general corporate purposes for the company which is moving toward LNG development.   Magellan’s previously announced reverse merger with privately held Tellurian Investments, the Charif Souki (former Cheniere Energy CEO) and Martin Houston (former BG COO) LNG development venture, is scheduled to close in Q4 of 2016. When it’s final, Souki will be chairman and Houston will be president, according to the company announcement. Tellurian, which has attracted other Cheniere executives, is focused on the development of a mid-scale liquefied natural gas (LNG) facility on the U.S. Gulf Coast. The project, currently in permitting and planning phase, is called Driftwood LNG. In the August 3 press release announcing[Read More…]