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Oil settles up, Brent tops $76 as U S supplies tighten more
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Reuters
4 minute read
The logo of Tellurian Inc is seen in its booth at Gastech, the world s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai
July 12 (Reuters) - U.S. liquefied natural gas (LNG) developer Tellurian Inc (TELL.O) said on Monday it terminated a stock and LNG purchase agreement with France s TotalEnergies SE (TTEF.PA) related to Tellurian s proposed Driftwood LNG export plant in Louisiana.
In the past, Tellurian wanted partners like TotalEnergies to invest in its Driftwood project, which will include a liquefaction plant, pipelines and natural gas production. The partners were to receive LNG from the project. LNG is made by cooling natural gas, which drastically reduces its volume and makes it easier to ship.