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Driftwood Project on Scheduele to Start First Production in 2023
= Everything advancing smoothly; negotiations with potential buyers ongoing =
Tellurian is advancing the Driftwood LNG production project in Louisiana to produce first LNG in 2023 as scheduled. The engineering work reached 26% completion and the approval processes for pipeline gas transportation commenced. A negotiation with potential buyer India's Petronet LNG is expected to be concluded by March 2020.

Meg Gentle, President and CEO of Tellurian, commented in the recently announced quarterly report: "Tellurian continues to execute on all facets of our strategy," showing its intention to remain the project on schedule.

The company signed a Memorandum of Understanding (MOU) with Petronet on LNG sales of up to 5 million mt per annum this September. Petronet owns stakes in the Driftwood project. The two companies will advance evaluation work, and ink a deal by March 2020 after acquiring approval of Petonet's board of directors.

Meanwhile, Tellurian is negotiating with other potential buyers for still uncontracted 4 mtpa of LNG of the first phase.

The Driftwood LNG project plans to construct an LNG production /export terminal with a liquefaction capacity of up to 27.6 mtpa in Louisiana. Necessary approval processes have already finished and the project is ready for a final investment decision (FID).

Tellurian intends to produce 16.6 mtpa of LNG in the first phase and start construction in 2020.
last modified : Fri 15 Nov, 2019 [11:52]
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