HOUSTON–(BUSINESS WIRE)–Tellurian Inc. (Tellurian) (NASDAQ: TELL) received its draft environmental impact statement (EIS) today from the United States Federal Energy Regulatory Commission (FERC) for the Driftwood LNG terminal facility and the associated Driftwood pipeline (the Driftwood Project). The draft EIS has been prepared in compliance with the requirements of the National Environmental Policy Act (NEPA), the Council on Environmental Quality regulations for implementing NEPA, and FERC regulations. The draft EIS is the culmination of an extensive evaluation process, including months of assessment and feedback from federal and state agencies and the public with respect to the Driftwood Project.
President and CEO Meg Gentle said, “We appreciate the hard work the FERC, U.S. Coast Guard, PHMSA and supporting agencies have put forth to ensure the Driftwood Project can produce LNG safely and efficiently beginning in 2023. Publication of the draft EIS is a significant milestone in the regulatory process for the project and was completed ahead of the FERC’s recently updated schedule. We continue to work in partnership with all the regulatory agencies to complete the final environmental impact statement (FEIS) by January 2019 and begin construction of the Driftwood Project thereafter, with approximately $30 billion of infrastructure investment and nearly 50,000 direct and indirect jobs in at least 18 States.”
|Estimated Driftwood project timeline|
|Final Environmental Impact Statement||18 January 2019|
|Driftwood final investment decision||1H 2019|
|Begin construction||1H 2019|
About Tellurian Inc.
Tellurian was founded by Charif Souki and Martin Houston and is led by President and CEO Meg Gentle. Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol “TELL”.