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Tellurian holds off on Freeport LNG purchase to focus on Driftwood project

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LNG Industry,

According to Reuters, Tellurian Inc. has decided not to purchase Toshiba Corp’s Freeport LNG volumes.

Speaking to Reuters, Martin Houston, co-founder and vice-chairman of Tellurian, said “It was an opportunity that the market presented, we took a look at it and decided not to pursue it.”

The company has instead opted to focus on its commitment to the Driftwood LNG export terminal.

Freeport holds a 20-year use-or-pay contract to supply LNG to Toshiba from its third train, currently under construction in Texas.

Tellurian is due to make a final investment decision (FID) on the Driftwood LNG export terminal, located in Louisiana, in 1H19. At this stage company officials have expressed that they feel no concern for the project with regards to the US-China trade war tariffs. The expectation is that the situation will have resolved itself by the time production at the facility starts in 2023, and before the first deliveries of LNG to Tellurian’s partners in 2024.

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