Tellurian reports 3Q18 results
Published by Will Owen,
Editor
LNG Industry,
Tellurian Inc. has continued to build its global natural gas business as evidence by its 3Q18 results.
Highlights:
- Received draft environmental impact statement (EIS) on 14 September 2018, from the US Federal Energy Regulatory Commission (FERC), for the Driftwood LNG terminal facility and associated Driftwood pipeline (the Driftwood Project).
- Secured financing for certain drilling and development activities in the form of a three-year senior secured term loan (the Term Loan).
- Advanced the sale of LNG and Driftwood Holdings’ partnership interests, with approximately 35 customer/partners conducting due diligence.
President and CEO Meg Gentle’s comments:
“Completing the draft EIS is a significant milestone in the LNG terminal regulatory process and reflects FERC’s commitment to deliver the final EIS in January. Tellurian has improved the efficiency of the Driftwood financing, reducing partners’ equity obligation to US$500/t. We expect to announce partners by the end of 2018, begin construction in the 1H19, and produce LNG by 2023.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/07112018/tellurian-reports-3q18-results/
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