HOUSTON, TX–(Marketwired – March 02, 2017) – Tellurian Inc. (NASDAQ: TELL) (“Tellurian”) announced today that their project Driftwood LNG has received authorization from the United States Department of Energy to export liquefied natural gas (LNG) to free trade agreement (FTA) nations.
Tellurian has also submitted an application to export LNG to non-FTA nations and expects to file their Federal Energy Regulatory Commission (FERC) application later this quarter.
Driftwood LNG is a proposed 26 million tonnes per annum LNG export facility near Lake Charles, Louisiana in the US Gulf Coast. Tellurian expects to begin construction of Driftwood LNG in 2018 and deliver first LNG in 2022, with full operations in 2025.
Tellurian Investments Inc. was founded as a private company on February 23, 2016, by Charif Souki and Martin Houston. On February 10, 2017, it merged with a wholly owned subsidiary of Magellan Petroleum Corporation. Upon close of the merger, Magellan Petroleum Corporation changed its name to Tellurian Inc. (Tellurian), and is listed on the Nasdaq under the symbol TELL. The employees and contractors of Tellurian are experienced industry experts developing low-cost LNG infrastructure projects along the United States Gulf Coast. The team plans to deliver low-cost LNG to customers from Driftwood LNG, a 26 million tonnes per annum liquefied natural gas export facility expected to become operational in 2022.
For more information, please see the company’s website at www.tellurianinc.com.