Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that the U.S.
Federal Energy Regulatory Commission (FERC) issued the final
Environmental Impact Statement for Driftwood LNG, an approximately 27.6
million tonne per annum (mtpa) liquefied natural gas (LNG) export
facility and an associated 96-mile pipeline (Driftwood project),
proposed near Lake Charles, Louisiana, on the U.S. Gulf Coast.
President and CEO Meg Gentle said, “Tellurian thanks the FERC for a
thorough review and for remaining on schedule. We look forward to
receiving the agency’s order granting authorization to site, construct
and operate our Driftwood project. 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.”
Estimated Driftwood project timeline
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Catalyst
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Estimated timeline
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Driftwood final investment decision
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1H 2019
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Begin construction
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1H 2019
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Begin operations
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2023
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About Tellurian Inc.
Tellurian was founded by Charif Souki and Martin Houston and is led by
President and CEO Meg Gentle. Tellurian intends to create value for
shareholders by building a low-cost, global natural gas business,
profitably delivering natural gas to customers worldwide. Tellurian is
developing a portfolio of natural gas production, LNG trading, and
infrastructure that includes an ~ 27.6 mtpa LNG export facility and an
associated pipeline. Tellurian is based in Houston, Texas, and its
common stock is listed on the Nasdaq Capital Market under the symbol
“TELL”.
For more information, please visit www.tellurianinc.com.
Follow us on Twitter at twitter.com/TellurianLNG.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the
meaning of U.S. federal securities laws. The words “anticipate,”
“assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,”
“initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,”
“should,” “will,” “would,” and similar expressions are intended to
identify forward-looking statements. Forward-looking statements herein
relate to, among other things, the capacity, timing, and other aspects
of the Driftwood project. These statements involve a number of known and
unknown risks, which may cause actual results to differ materially from
expectations expressed or implied in the forward-looking statements.
These risks include the matters discussed in Item 1A of Part I of the
Annual Report on Form 10-K for the fiscal year ended December 31, 2017
filed by Tellurian with the Securities and Exchange Commission (the
“SEC”) on March 15, 2018, Item 1A of Part II of the Quarterly Report on
Form 10-Q of Tellurian for the quarterly period ended September 30,
2018, and other filings with the SEC, all of which are incorporated by
reference herein. The final investment decision relating to the
Driftwood project is subject to the completion of financing arrangements
that may not be completed within the time frame expected or at all. The
forward-looking statements in this press release speak as of the date of
this release. Although Tellurian may from time to time voluntarily
update its prior forward-looking statements, it disclaims any commitment
to do so except as required by securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190118005437/en/
Copyright Business Wire 2019
Source: Business Wire
(January 18, 2019 - 12:47 PM EST)
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