Yesterday, natural gas-based Tellurian Inc.’s (stock ticker: TELL) subsidiary company Tellurian Trading UK Ltd. entered into an MOU to supply 1.5 mtpa of liquefied natural gas (LNG) from the proposed Driftwood LNG export terminal. The transaction price is based on the Platts Japan Korea Marker (JKM) and is for a minimum term of 15 years.

Under the MOU, Tellurian and Vitol will negotiate a LNG sale and purchase agreement. Vitol will purchase LNG free on board (FOB). The agreement will contain Tellurian’s receipt of regulatory approvals and a final investment decision to construct the Driftwood LNG export terminal.

For the Driftwood project, the final environmental impact statement is estimated to be completed by January 18, 2019, with ...

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