Demand for this has recently increased, largely because the world's more industrialized countries need to make many of their power-generating assets more environmentally friendly. "I hope that we will be in construction this summer," said Charif Souki, co-founder and executive chairman of Tellurian. Receive daily email alerts, subscriber notes & personalize your experience. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. Market data powered by FactSet and Web Financial Group. Tellurian ( TELL +2.6%) co-founder and Executive Chairman Charif Souki says the company is … Driftwood LNG will create approximately ~6,500 construction jobs, and ~400 operational jobs. Jun. Tellurian reports that construction is slated to begin on the LNG export terminal at Driftwood in summer 2021, intended to refuel LNG tankers. View the latest Tellurian Inc. (TELL) stock price, news, historical charts, analyst ratings and financial information from WSJ. Offering reliable liquefied natural gas, Tellurian serves the natural gas market by developing low-cast natural gas-related infrastructures. The proposed 96-mile feed gas pipeline would deliver to the facility an annual average of 4 bcf/d of natural gas. Oil & gas sector giant Tellurian Inc employs 176 people, and its Market capitalization is 561.81M. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Driftwood and invest $500 million in Driftwood Holdings LP, it said in a statement. Houston-based liquefied natural gas exporter Tellurian Inc. (Nasdaq: TELL) is considering changes to its flagship project, Driftwood LNG, in light of the turmoil in the broader LNG market. Feb. 9, 2021 at 6:15 a.m. The company has a deal in place with French energy giant Total SA (NYSE:TOT), which will invest $500 million in Driftwood and $200 million in Tellurian common shares (at $10 per share) once a … According to the EIA, natural gas production was 61.1 billion cubic feet per day (bcfd) in 2010. Driftwood LNG LLC, owned by Tellurian Inc., is developing a liquefied natural gas (LNG) production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. While LNG is an attractive and elegant solution, building out terminals such as Driftwood LNG is expensive. 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, La. Transfer agent. Demand for this has recently increased, largely because the … Tellurian stock price target raised to $2.50 from $1.00 at Evercore ISI. The company said that the net proceeds will also be used to fund general corporate purposes and working capital. Driftwood LNG is a planned export terminal that would allow Tellurian to produce and ship LNG. Stock Advisor launched in February of 2002. The first phase of Driftwood is slated for operation in 2025, and will produce about 16.5 million tonnes per annum of LNG, equivalent to about 2.2 billion cubic feet per day of natural gas. Tellurian sees Driftwood LNG construction start pushed to H1 2021. Not registered? Driftwood LNG Led by Keith Teague, the Tellurian cornerstone project is Driftwood LNG, a proposed ~27.6 mtpa liquefaction export facility that will be located near Lake Charles, Louisiana. 2 years ago. In addition, Tellurian and Total Gas & Power entered into a definitive sales and purchase agreement for an additional 1.5 mtpa of LNG from Tellurian’s LNG offtake volumes from Driftwood. The liquefied natural gas (LNG… 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, La. Driftwood LNG LLC is owned by Tellurian Inc. © 2016 Driftwood LNG. Once complete, the terminal will be able to export up to 27.6 million tonnes of LNG per year to customers worldwide, according to the company’s website. Tellurian plunges to three-year low as Driftwood LNG faces extensive delay. Evidently, Driftwood LNG will have a production capacity of around 27.6 million metric tons per year. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Tellurian Blasted 25% Higher on Friday @themotleyfool #stocks $TELL, Why Tellurian Stock Is Down 27% Today After Surging 55% Yesterday, Here's Why Tellurian Stock Is Down 21% Thursday, Better Buy: Cheniere Energy vs. Tellurian, Why 2019's Losses Don't Mean Much for Tellurian and NextDecade, Better Buy: Tellurian vs. Cheniere Energy, Copyright, Trademark and Patent Information. The planned Driftwood LNG facility proposed by a Tellurian Inc. subsidiary is expected to create 300 permanent jobs and 6,400 construction jobs, state officials say. Returns as of 03/09/2021. 2. Total also will purchase about 20 … The deals include a heads of agreement upon which Total will invest in Driftwood Holdings and will offtake 2.5 Million tons per annum (mtpa) of LNG. Driftwood LNG is a planned export terminal that would allow Tellurian to produce and ship LNG. Driftwood LNG terminal is a proposed 27.6mtpa liquefaction export facility to be located near Lake Charles, Louisiana on the US Gulf Coast Image: The terminal and associated pipeline secured all the necessary permits and licenses to start construction. The pipeline will consist of: 74 miles of single 48-inch diameter pipeline. As an LNG supplier, we are well positioned with our integrated Driftwood partnership to control supply cost, effectively manage emissions through our own production, and produce LNG at a very low and stable cost that is globally competitive.” Click to Read More Posted on February 16, 2021 This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. April 28, 2020. Oil & gas sector giant Tellurian Inc employs 176 people, and its Market capitalization is 561.81M. Once complete, the terminal will be able to export up to 27.6 million tonnes of LNG per year to customers worldwide, according to the company’s website. Draft FERC Environmental Impact Statement, Final FERC Environmental Impact Statement, DOE license to export to non-FTA countries, Executed definitive agreements with Total, Secure commercial agreements and project funding. Tellurian and Petronet signed a non-binding agreement in September, in which Petronet agreed to negotiate the purchase of up to five MTPA of LNG, concurrent with an equity investment in Driftwood. | Website Design by Axiom. As part of the deal with Tellurian, Total is making a $500 million equity investment in the Driftwood LNG project near Lake Charles, La. Houston-based liquefied natural gas exporter Tellurian Inc. (Nasdaq: TELL) is considering changes to its flagship project, Driftwood LNG, in light of the turmoil in the broader LNG market. As a strategic partner of Tellurian, we are confident to further invest in the company and become an investor and a customer of Driftwood LNG. A native New Yorker, he currently lives in Los Angeles. Meanwhile, the selling prices of the underlying commodity -- natural gas -- have plunged in a softening global economy, so lenders are hesitant to provide financing for such projects. Less cost combined with a lack of capital discipline led to a supply increase that outpaced the construction of pipelines able to co… Tellurian has been in talks with several companies to select equity partners for the project. As a result of improved technology and drilling techniques, the U.S. is now an energy leader, but other countries have also found ways to produce oil and gas for far less than in the past. The FID for the second phase of the project is expected about 12 … Here's Why Tellurian Stock Is Down 21% Thursday ... raising capital and lining up partners to build its $20-billion-plus Driftwood LNG export facility and associated pipelines. The deals come a month after Tellurian laid off more than 40 percent of its 176 employees, reshuffled executives and cut expenses in a bid to save its Driftwood LNG project in Lake Charles, La. Tellurian reports that construction is slated to begin on the LNG export terminal at Driftwood in summer 2021, intended to refuel LNG tankers. The planned Driftwood LNG facility proposed by a Tellurian Inc. subsidiary is expected to create 300 permanent jobs and 6,400 construction jobs, state officials say. The catch with Souki's pronouncement, though, is that it falls short of a final investment decision (FID) -- the formal approval of an energy project by the company or companies behind it -- on Driftwood LNG. The engineering, procurement and construction contract for Driftwood guarantees at least 14.4 million tons per year of LNG capacity, with an expected capacity of 16.6 million tons per year. Driftwood LNG project financing. Tellurian Inc TELL 5.1% shares are trading higher after its co-founder and executive chairman Souki said the company is targeting to begin construction of its $16.8 billion Driftwood LNG … By Scott DiSavino (Reuters) - The co-founder of U.S. LNG developer Tellurian said Thursday that the company is targeting this summer to begin construction of its $16.8 billion Driftwood LNG export project in Louisiana as demand for the super-cooled fuel surges worldwide. At this writing, Tellurian is basically a business plan, some cash, a handful of deals with partners and potential LNG customers, and a management team with a very good track recordof building a successful LNG export business. Once complete, the terminal will be able to export up to twenty-seven million, six hundred thousand tonnes of LNG … The engineering, procurement and construction (EPC) leader secured four lump-sum turnkey agreements with Driftwood LNG. It has received the most significant permits required for construction and operation, has progressed to ~30% engineering complete having invested approximately $150 million, and has completed the purchase and lease of approximately 1,000 acres of real estate ensuring an ideal construction site with ample laydown area for equipment and deep-water access for shipping. In total, Driftwood will produce 27.6 mtpa of LNG or about 4 billion cubic feet per day (bcfd) of natural gas. Tellurian issued a business update in early April, and its timeline for final approvals from FERC and making a final investment decision, or FID, o… Construction of the Driftwood LNG project is expected to begin in 2018 with the first liquefied natural gas (LNG) produced in 2022, subject to Tellurian making a Final Investment Decision and a permit from the U.S. Federal Energy Regulatory Commission. Driftwood LNG LLC 1201 Louisiana Street, Suite 3100 Houston, TX 77002 General inquiries: 1-832-962-4027 or 1-888-321-7260 (toll-free) Driftwood Pipeline LLC, a subsidiary of Tellurian Inc., is currently investigating the development of a pipeline to deliver gas to the Driftwood LNG facility. Driftwood LNG LLC, owned by Tellurian Inc., is developing a liquefied natural gas (LNG) production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. We’re motley! Driftwood LNG. Tellurian plans to make a FID on its Driftwood LNG export project in the first half of 2019. All Rights Reserved. Tellurian's Souki sees Driftwood LNG construction starting this summer. The good news is, things are very close to starting to move forward. More precisely, Total will make a $500 million equity investment in the Driftwood LNG and purchase 1 mtpa of LNG from the proposed project. Driftwood LNG is a planned export terminal that would allow Tellurian to produce and ship LNG. The terminal will launch in 2025. Driftwood LNG LLC is developing a liquefied natural gas (LNG) production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. The project is expected to produce first LNG in 2023, with full operations expected in 2026. Tellurian would like to get Driftwood LNG up and running in 2025. In total, Driftwood will produce 27.6 mtpa of LNG or about 4 billion cubic feet per day (bcfd) of natural gas. Considering that, the co-founder's words are simply talk, and investors should be cautious. Total also will purchase about 20 … 16, 2020 7:16 PM ET Tellurian Inc. (TELL) By: Carl Surran, SA News Editor 6 Comments. TELL stock jumped 25.29% to close at $2.13 on the last trading session. Tellurian (NASDAQ:TELL) will delay its target date to begin construction of its proposed Driftwood liquefied natural gas export terminal in Louisiana until H1 2021, CEO Meg Gentle told J.P. Box 1342 Brentwood, New York 11717 T: +1 (720) 864-4767 shareholder@broadridge.com 1. According to the company, the facility could theoretically produce roughly 16.5 metric tons of LNG per year. Once complete, the terminal will be able to export up to twenty-seven million, six hundred thousand tonnes of LNG per year to customers worldwide. A pronouncement from one of the top figures at the company provided a surge of hope for investors. Once complete, the terminal will be able to export up to twenty-seven million, six hundred thousand tonnes of LNG per year to customers worldwide. The Driftwood LNG terminal is a proposed ~27.6 mtpa liquefaction export facility that will be located near Lake Charles, Louisiana on the U.S. Gulf Coast. As a strategic partner of Tellurian, we are confident to further invest in the company and become an investor and a customer of Driftwood LNG. Offering reliable liquefied natural gas, Tellurian serves the natural gas market by developing low-cast natural gas-related infrastructures. Charif Souki, Tellurian's co-founder and executive chairman, said the company is aiming to begin construction on Driftwood LNG this summer, saying that it's "probably the project that is the closest to starting construction.". Driftwood has a $15.5 billion lump-sum turn key engineering, procurement and construction contract with Bechtel that guarantees cost, performance and schedule. LNG: Tellurian tightens belt amid dim short-term outlook for LNG industry The moves as Tellurian tries to save the company's Driftwood LNG project in … The first phase of Driftwood is slated for operation in 2025, and will produce about 16.5 million tonnes per annum of LNG, equivalent to about 2.2 billion cubic feet per day of natural gas. Houston-based Tellurian intends to offer 10 million shares for sale to fund detailed engineering of its 27.6-mtpa Driftwood LNG export facility and an associated pipeline in Southwest Louisiana. Led by Keith Teague, the Tellurian cornerstone project is Driftwood LNG, a proposed ~27.6 mtpa liquefaction export facility that will be located near Lake Charles, Louisiana. Driftwood is one of about a dozen U.S. LNG export projects that said they could make final investment decisions in 2019. Houston — Tellurian has delayed its target to begin construction of its proposed Driftwood LNG export terminal in Louisiana until next year, the company's CEO said June 16. The project is expected to produce first LNG in 2023, with full operations expected in 2026. Tellurian Executes Agreements for $50 Million Financing and Reduction of Term Loan. Driftwood is one of a dozen U.S. LNG export terminals under development that expect to make a final investment decision in 2019, which together would produce about 146 MTPA of LNG. Liquefied natural gas (LNG) specialist Tellurian (NASDAQ:TELL) rose sharply to close more than 25% higher on Friday. Tellurian initiated a process to raise $24bn for Driftwood Holdings, with Goldman Sachs and SG Americas Securities serving as financial advisors, in January 2018. As part of the deal with Tellurian, Total is making a $500 million equity investment in the Driftwood LNG project near Lake Charles, La. Furthermore, Tellurian has an extensive pipeline-building segment. Natural gas company Tellurian (TELL) signed an MOU with India's Petronet to sell 18% stake in its proposed Driftwood LNG terminal and export 5 million tons of LNG a year from it for 40 years. ET by Tomi Kilgore. In 2019, it was 99.1 bcfd. Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. TELL stock jumped 25.29% to close at $2.13 on the last trading session. Broadridge Corporate Issuer Solutions, Inc. P.O. View the latest Tellurian Inc. (TELL) stock price, news, historical charts, analyst ratings and financial information from WSJ.
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