Tellurian Inc.’s decision to pull a $1 billion bond deal related to its Driftwood project will “jeopardize” initial LNG exports slated for early 2026 while the search for equity partners intensifies.
A Tellurian Inc. investor is urging the would-be U.S. energy exporter to put itself up for sale, saying poor governance, nepotism and “misleading communications” have doomed the company’s $12.8 billion aspiration to ship shale gas overseas.
(Bloomberg) Sky-high energy prices from Europe to Asia are highlighting the need for more investment in natural gas supplies while renewable energy output still lags, traders and executives gathering in Amsterdam said. Lessons from the crisis that has forced some industrial plants to curb output, power plants to switch to dirtier fuels and led to a collapse of some energy suppliers in Britain dominated the Flame conference, the gas industry’s first major European get-together since the pandemic. “Unfortunately, based on some of the under-investment over the last few years in gas infrastructure around the world, you are getting big periods of volatility,” Tarek Souki, executive vice president for LNG marketing at U.S. developer Tellurian Inc., said Tuesday in an interview in Amsterdam on the sidelines of the event. “We clearly don’t have enough infrastructure to provide the gas that we need to keep prices at relatively stable levels.” Gas prices in Europe have surged more
Tellurian has finalized a liquefied natural gas (LNG) sales and purchase agreement (SPA) with Vitol. The SPA is for three million tonnes per annum (mtpa) on a free on board (FOB) basis at Driftwood LNG for a ten-year period. At today’s prices, the agreement is valued at approx. $12 billion in revenue over ten years.