Tellurian reports Q1 2018 results
Published by Will Owen,
Editor
LNG Industry,
Tellurian Inc. has continued to build its global natural gas business during the first quarter of 2018.
Notable Tellurian achievements:
- Initiated a process to raise US$24 billion for Driftwood Holdings, which will own the Driftwood LNG export facility, one or more pipelines, and natural gas production assets; engaged Goldman Sachs & Co. LLC and SG Americas Securities, LLC (Société Générale) to serve as financial advisors.
- Conducted non-binding open seasons through its subsidiaries to secure prospective shippers on two newly proposed pipelines – Haynesville Global Access Pipeline (HGAP) and Permian Global Access Pipeline (PGAP). The pipelines are part of Tellurian’s previously announced proposed pipeline network, the development of which is expected to represent an approximately US$7 billion investment in US infrastructure and to create approximately 15 000 jobs in Texas and Louisiana.
- Generated approximately US$6 million in revenue from LNG marketing, and approximately US$1 million from natural gas sales.
- Received a US$50 million investment from an affiliate of Bechtel Oil, Gas and Chemicals, Inc.
President and CEO Meg Gentle said, “There are more than 20 companies conducting detailed analysis in our data room for Driftwood Holdings and we expect to be able to identify our partners soon. We intend to begin construction of the Driftwood LNG terminal in 2019 and produce first LNG in 2023.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09052018/tellurian-reports-q1-2018-results/
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