Including Total's original $183 million investment in Tellurian in 2017, Total's aggregate investment in the Tellurian portfolio will amount to $907 million, Tellurian said in a press release.
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Tellurian said Total's aggregate investment in the Tellurian portfolio will be about $907 million at the time of the final decision to build the plant.
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Tellurian is on schedule to announce its partners in the $24 billion project by the end of 2018, Tellurian President and CEO Meg Gentle said in the company's third quarter earnings release.
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Tellurian is on schedule to announce its partners in the $27.5 billion project in the third or fourth quarter, Tellurian President and CEO Meg Gentle said in the company's second-quarter earnings release.
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Shares of Tellurian closed Thursday's session up more than 4%.
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Tellurian plans to take a final investment decision this year.
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Souki and Houston formed Tellurian less than two weeks later.
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Why we can learn from him: Souki, founder of Tellurian Inc.
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SINGAPORE (Reuters) - U.S. liquefied natural gas (LNG) company Tellurian Inc (TELL.
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"Tellurian will then stand ready to make a final investment decision and begin construction in the first half of 2019, with the first LNG expected in 2023," said Tellurian Chief Executive Meg Gentle in an statement.
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HOUSTON — A carbon tax would cost natural gas export company Tellurian Inc.
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Tellurian said about 25 prospective customer/partners are looking at the offering.
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For now, Tellurian is focusing on its Driftwood LNG project, Houston said.
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I recently spoke with Souki, who founded a new company called Tellurian Inc.
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Even the fossil fuel industry will find normalcy difficult going forward; Tellurian Inc.
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The first phase of the project will likely comprise 16.6 MTPA, Tellurian has said.
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Earlier this year, Bechtel Corporation made a $50 million preferred equity investment in Tellurian.
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Tellurian also just hired Anita Orban, who was the energy envoy for Hungary's foreign ministry.
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"There's a misconception about what oversupply means," said Charif Souki, chairman of gas producer Tellurian.
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Tellurian is one of a dozen companies planning to build LNG export plants like Cheniere's.
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Before construction, Tellurian needs to find long-term buyers, whose commitments will underpin the financing.
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Tellurian said the companies extended the deadline to May 31 to support Petronet's review process.
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On Wednesday, Tellurian Inc and French oil and gas major Total SA signed a deal that includes both companies entering into a binding agreement for 1.5 million tonnes per annum (mtpa) of LNG from Tellurian, which is developing the Driftwood LNG project in Louisiana.
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The two projects are Tellurian Inc's Driftwood in Louisiana and Sempra Energy's Port Arthur in Texas.
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Tellurian said about 35 customers were interested in partnering with and buying gas from the project.
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Souki said Tellurian was building a pipeline network to get access to the cheapest gas available.
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In the energy market, the host pointed to Sempra Energy, Dominion Energy, Cheniere Energy and Tellurian.
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In the beginning of February, Tellurian acquired Magellan Petroleum in a deal that took the company public.
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Tellurian said it has about 25 customers interested in partnering with and buying gas from the project.
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Per disclosures, CSIS received between $35,000 and $64,999 each from Occidental Petroleum Corporation, ConocoPhillips, Eni, and Tellurian.
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Souki is now chairman of Tellurian, which is developing an LNG export plant in Louisiana called Driftwood.
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"Vitol is evaluating a potential equity investment in the Driftwood Holdings partnership," Tellurian said in a statement.
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Tellurian has said it could make a final investment decision (FID) to build Driftwood in early 2020.
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Tellurian said it has about 35 customers interested in partnering with and buying gas from the project.
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" Tellurian said in its fourth-quarter earnings release earlier this week that Driftwood was "shovel ready for 2020.
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Tellurian founder Charif Souki isn't worried about potential tariffs on natural gas exports, he told CNBC's Jim Cramer.
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Petronet is also in talks with Tellurian Inc and Qatar Gas to buy stakes in their LNG assets.
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"We would like to be a supplier that competes for that market," Tellurian Chief Executive Meg Gentle told Reuters.
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Check out the companies making headlines after the bell: Tellurian dropped more than 5 percent in extended hours training.
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Heminger echoed another top energy executive, Tellurian Chairman Charif Souki, in calling for infrastructure improvements across the energy industry.
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The group is already in talks with several companies including U.S. based Tellurian and NextDecade Corp to buy LNG.
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LNG facilities from Cheniere Energy Inc, Tellurian Inc and others are either operating or planned across the U.S. Gulf Coast.
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Tellurian and commodities trader Vitol have also signed a memorandum of understanding for long-term LNG supply priced off JKM.
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Tellurian is currently developing export terminals for liquefied natural gas, making investments in pipelines and funding some natural gas production.
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Since that time, Souki has teamed up with Martin Houston, the former COO of BG Group to head up Tellurian Investments.
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Shares in Tellurian, which is developing the $27.5 billion Driftwood project, fell over 16% to $3.675, their lowest since August 2016.
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Amos Hochstein, who ran the State Department's energy bureau under Obama, is now a senior advisor and vice president at Tellurian Inc.
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Tellurian, which went public earlier this year, has poached other top Cheniere executives, including current CEO Meg Gentle and lobbyist Ankit Desai.
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By the numbers: Tellurian ended last year with a nearly $126 million loss on roughly $11 million revenue, according to the Houston Chronicle.
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Tellurian plans to make a final investment decision on its Driftwood LNG export project in the first half of 2019 for phase 1.
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Speakers will include executives from Peabody Energy, a coal company; NuScale Power, a nuclear engineering firm; and Tellurian, a liquefied natural gas exporter.
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Chesapeake Energy — The oil producer is in talks with Tellurian to sell its Louisiana drilling fields, which are valued at about $2 billion.
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Tellurian is developing the Driftwood LNG export plant in Louisiana and pipelines to transport gas from fields like the Permian to the Gulf Coast.
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Cheap gas prices, Souki said, would boost demand for oil and Tellurian, which deals in natural gas transportation infrastructure, isn't worried about increasing competition.
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" Amos Hochstein, senior vice president of marketing at LNG company Tellurian said he had served in the Obama administration: "I'm very proud of that.
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And Tellurian, another LNG terminal developer, signed an offtake agreement with trading house Vitol which is priced to the Asian JKM benchmark LNG price.
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In February, Petronet LNG inked an initial deal with Tellurian Inc to invest in its proposed Driftwood project in Louisiana in the United States.
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Tellurian, a company developing an integrated gas well-to-export terminal business, ended the day up 2 percent and rose 3.6 percent on Thursday.
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Tellurian, a recent entrant in liquefied natural gas production, is trading under $8 per share and is an ideal speculative play in Cramer's eyes.
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Tellurian announced last week it was donating $2 million to Columbia University's Center on Global Energy Policy to research a carbon tax and related policies.
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Both companies also signed a common stock purchase agreement in which Total will buy nearly 20 million shares of Tellurian common stock for $200 million.
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Tellurian Inc, another LNG developer, signed an offtake agreement with trading house Vitol, which is priced to the Asian Japan/Korea Marker (JKM) LNG benchmark.
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Tellurian was one of about a about dozen firms developing LNG export plants in North America that delayed their planned FID from 2019 to 2020.
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Construction on the company's first LNG project Driftwood is slated to begin in 2019, and Tellurian plans to begin producing LNG from it in 2023.
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Psygnosis were sad to see me go, but I continued to work for them in a freelance capacity, on projects like WipEout Pure and Tellurian Defense.
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Chief Executive Meg Gentle said in the company's third-quarter earnings that Tellurian will announce partners in the $227.5 billion project by the end of 227.6.
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Tellurian entered into a merger agreement with Magellan Petroleum Corporation on August 2, 2016, and expects the agreement to close in the first quarter of 2017.
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Tellurian said it planned to make a final investment decision this year on whether to build Driftwood, which would enable the plant to enter service in 202018.
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Both Tellurian and Cheniere have said in federal filings that they do not expect resolution of the litigation will have a material effect on their financial results.
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The Tellurian deal follows last month's announcement that a consortium led by Total has been awarded a deal to build an LNG import terminal in Ivory Coast.
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In addition to the LNG terminal, Tellurian is developing pipelines to transport gas from shale formations in Texas and Louisiana to LNG terminals and other Gulf Coast customers.
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A Tellurian executive said he thought the escalation of the trade spat, which involve billions of dollars worth of goods other than LNG, was a short-term issue.
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Tellurian has lined up Bechtel for its 27.5 million-tonne-a-year project with a lump sum contract, which Houston said gave it an advantage over rival projects.
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Tellurian has acquired about 11,620 acres with an estimated 1.4 trillion cubic feet of low-cost resources in the Haynesville shale play, which straddles the Texas-Louisiana border.
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Former Cheniere Energy boss Charif Souki says the answer to the glut of natural gas is even lower prices, which he says his new exporter Tellurian Investments will supply.
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Go deeper: Energy pioneer tries to surf the natural-gas wave Editor's note: This piece was corrected to show Charif Souki is a co-founder of Tellurian (not CEO).
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The FID for the second phase of the project is expected about 12 to 18 months after construction starts on phase 1, said Meg Gentle, chief executive of Tellurian.
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In addition to the LNG terminal, Tellurian is also developing pipelines to transport gas from shale formations in Texas and Louisiana to LNG terminals and other Gulf Coast customers.
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Last week India's top gas importer Petronet LNG signed an initial deal to invest and buy LNG from Tellurian Inc's proposed Driftwood project in Louisiana in the United States.
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Cheniere claimed Driftwood is materially the same project as one of the plants Parallax was developing with money from Cheniere, but Tellurian has said it is not the same.
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But second-wave newcomers like Tellurian Inc, NextDecade Corp and Venture Global LNG face a range of challenges from financing to contract pricing to pipeline access, experts told Reuters.
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Tellurian had previously said it was in talks with about 25 prospective customers including Total, General Electric and Bechtel, which has a $15.2 billion contract to build the LNG terminal.
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Tellurian has said its partners include units of Total SA , Vitol, Petronet LNG Ltd, General Electric Co and Bechtel, which has a contract to build the $15.4 billion liquefaction facility.
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Tellurian at one point offered equity interest in Driftwood at a set price per tonne of LNG delivered, which it said would remove the risk of volatile LNG prices for customers.
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Tellurian announced the extension following a report that Petronet issued a request for information to buy about 215.4 million tonnes per annum (MTPA) of LNG for 10 years starting from 2024.
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The one potential silver lining was in the liquefied natural gas space, where companies like Cheniere Energy and Tellurian are paving the way for shipping the commodity overseas in liquid form.
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Energy guru Charif Souki, the chairman and co-founder of Tellurian, told CNBC on Wednesday that the natural gas industry is going to need a major fund infusion to keep drilling.
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The companies developing new LNG projects include units of Cheniere, Tellurian Inc, Energy Transfer Partners LP, Exxon Mobil Corp, Pembina Pipeline Corp, Liquefied Natural Gas Ltd, Kinder Morgan Inc and Sempra Energy.
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LNG Ltd has proposed four 2-Mtpa trains at its Magnolia project in Louisiana, while Tellurian Inc is planning up to 20 1.38-Mtpa trains at its Driftwood project, also in Louisiana.
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LONDON, Dec 6 (Reuters) - Tellurian, which is developing a liquefied natural gas (LNG) export project on the U.S. Gulf Coast, has signed a preliminary deal to supply LNG to commodities trader Vitol.
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Tellurian and Petronet signed a non-binding agreement in September, in which Petronet agreed to negotiate the purchase of up to five MTPA of LNG, concurrent with an equity investment in Driftwood.
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The founder and former chief executive of U.S. liquefied natural gas (LNG) pioneer Cheniere Energy, Souki co-founded Tellurian Investments this year with Martin Houston, the former chief operating officer of BG Group.
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While it's tough to bet which direction oil prices may swing, Tellurian Chairman Charif Souki said Thursday that the Permian Basin in Texas and New Mexico is the key influence on the market.
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Unlike most proposed U.S. LNG export projects that will liquefy gas for a fee, Tellurian is offering customers the opportunity invest in a full range of services from production to pipelines and liquefaction.
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The Cowen analysts noted Tellurian had about $80 million in cash and about $88 million in debt due May 23, presenting a potential liquidity issue unless the company secures equity interest in Driftwood.
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If a country cuts its imports to zero, then it cannot import Iranian crude again until the sanctions are lifted, explained Hochstein, now senior vice president for marketing at liquefied natural gas firm Tellurian.
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The agreements are subject to relevant regulatory approvals and to a final investment decision on the Driftwood LNG project, which is expected to be made by Tellurian in the first half of this year.
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Amos Hochstein, Senior Vice President in Tellurian Inc, signed the memorandum of understanding with a Petronet LNG official via a video link in the presence of Prabhat Singh, managing director of the Indian company.
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"We are not in the process, and we are not going to buy Toshiba volumes," Martin Houston, co-founder and vice-chairman of Tellurian, said on the sidelines of the Singapore International Energy Week.
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Tellurian Inc Chairman Charif Souki on Tuesday said at the gas conference that his firm could guarantee deliveries of the supercooled fuel to Japan for $8 per million British thermal units all inclusive from 2023.
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Biden's former political director in the Senate, Ankit Desai, went on to serve as a lobbyist and vice president of Cheniere before joining Tellurian, where he now serves as a senior adviser to the CEO.
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Total, which is paying $5.85 a share for the stake, and Tellurian will jointly develop an integrated gas project, from producing gas in the United States to delivering liquefied natural gas (LNG) to international markets.
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The company estimated the U.S. Federal Energy Regulatory Commission (FERC) will approve construction of Driftwood in January 2019, enabling Tellurian to make a final investment decision to build the project in the first half of 2019.
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"I think there is a general acceptance in the energy industry that there should be some kind of pricing on carbon emissions," Charif Souki, a pioneer in the natural-gas industry and founder of Tellurian Inc.
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The combined hires of Orban and Hochstein, who focused much of his time at the State Department on helping European nations wean themselves from Russian gas, signals Tellurian wants to focus heavily on that European market.
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In addition, the HOA specifies that both companies will enter into a binding sales and purchase agreement (SPA) for a further 1.5 mtpa of LNG from Tellurian Marketing's LNG offtake volumes from the proposed Driftwood terminal.
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"We're exporting gas, so we're very happy," said Charif Souki, chairman of Tellurian Inc, which recently received approval to export liquefied natural gas to free trade agreement countries from its Driftwood project near Lake Charles, Louisiana.
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Tellurian said it planned to make a final investment decision on its $30 billion Driftwood project, which includes pipelines and production fields in addition to the liquefaction plant, in 2019 with first LNG production expected in 2023.
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Since that time, Souki founded a new company called Tellurian Investments, with the goal of finding new ways to profit on the cheap price of natural gas in the U.S. compared to the rest of the globe.
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What's next: Tellurian is working to build an export terminal in Louisiana backed by its own gas resources and pipelines that allows partners to gain equity, a business model it hopes can ensure cheaper prices than competitors.
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A $500 million investment in Driftwood would give the stakeholder rights over a one million tonne/year of LNG over the life of the project, according to a presentation by Tellurian posted on the U.S. company's website.
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Specifically, Perry pushed Naftogaz to expand its supervisory board — a three-person entity that now includes Amos Hochstein, a former Biden aide and State Department energy official currently working for the U.S. liquefied natural gas company Tellurian.
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Tellurian is also working to build a new liquefied natural gas facility called Driftwood LNG, which is estimated to cost about $12 billion and will have the capacity to export approximately 26 million tons of LNG per year.
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"The very low cost of American LNG will create its own demand," said Charif Souki, chairman of Tellurian Inc, which expects to make a final decision in coming months to build its Driftwood LNG export project in Louisiana.
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"We can get to Japan for eight bucks, so it is fine with me," said Elizabeth Spomer, executive vice president at Veresen Inc and head of its planned Jordan Cove LNG project, when asked about the Tellurian offer.
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"I think this is going to slow things down, but if the gambit is successful it will help," said Charif Souki, chairman of Tellurian, a liquefied natural gas company now attempting to make energy deals with Saudi Arabia.
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Sources told Reuters on Friday that Petronet would sign a memorandum of understanding with Tellurian to invest $2.5 billion for rights of up to 5 million tonnes a year of LNG over the lifespan of the Driftwood project.
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Those companies include Dominion Resources Inc, Kinder Morgan Inc, Sempra Energy and Freeport LNG, which are building LNG export terminals, and Exxon Mobil Corp, Veresen Inc, Venture Global LNG and Tellurian Inc, which hope to build new export terminals.
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Tellurian also said it closed open seasons on two proposed pipelines - Permian Global Access and Haynesville Global Access - that are designed to transport gas from shale formations in Texas and Louisiana to LNG terminals and other Gulf Coast customers.
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Entitled "The Role of Cleaner and More Efficient Fossil Fuels and Nuclear Power in Climate Mitigation," it will feature speakers from Peabody Energy, a coal company; NuScale Power, a nuclear engineering firm; and Tellurian, a liquefied natural gas exporter.
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"If you watch what he does as opposed to the noise around him, so far so good," said Charif Souki, chairman of Houston-based Tellurian and a leading industry spokesman for increasing natural gas exports from the United States.
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"We expect to receive our federal permits ... and make a final investment decision in the first quarter of next year," Souki said, which should allow Tellurian to start producing LNG in early 2023 and complete the project in 2026.
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Souki said Tellurian would look to undercut competitors' prices by about 17 percent when it started shipping in six years' time - a price reduction Souki told CNBC could be achieved by engaging producers early in the process and through better engineering.
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Unlike most other proposed U.S. LNG export projects that will liquefy gas for a fee, Tellurian is offering customers the opportunity to meet their gas needs by investing in a full range of services from production to pipelines and liquefaction.
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U.S. LNG project developer Tellurian Inc said earlier this week that it is offering billions of dollars in equity in its Driftwood project in Louisiana, which will in turn lower the delivered cost of the fuel to buyers in Japan.
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"The agreements we have executed with Total confirm the business model for the Driftwood project, establishing it as an LNG joint venture partnership with an implied value of $13.8 billion," Tellurian President and Chief Executive Meg Gentle said in the statement.
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AMSTERDAM (Reuters) - Executives from U.S. liquefied natural gas (LNG) companies Cheniere Energy and Tellurian on Tuesday said they view the trade dispute between China and the United States as temporary, with no major impact on their ability to sell LNG.
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In its civil lawsuit, filed in Harris County, Texas, Cheniere alleged Souki and Parallax's owner Martin Houston put a plan together in December 2015 to close Parallax, without repaying Cheniere, but continue its operations through a new company that became Tellurian.
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Giles Farrer of consultancy Wood Mackenzie said Total's acquisition of the stake in Tellurian and Monday's announcement that BP is buying into projects in Mauritania and Senegal are signs that the majors are going big on small-scale LNG projects.
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NEW DELHI (Reuters) - The United States needs to invest $150 billion in infrastructure to support growing natural gas production, with some producers facing shutdowns as they try to ramp up output, Tellurian Senior Vice President Amos Hochstein said on Thursday.
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AMSTERDAM, May 14 (Reuters) - Executives from U.S. liquefied natural gas (LNG) companies Cheniere Energy and Tellurian on Tuesday said they view the trade dispute between China and the United States as temporary, with no major impact on their ability to sell LNG.
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" Tellurian: "No, no double down, no double down, but I do like it because of Shari Souki, and he's got 15 percent of the company, and we want to be with Shari for the side-by-side, but let's not go crazy.
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PARIS (Reuters) - French oil and gas major Total said on Tuesday it will buy a 23 percent stake in Tellurian Investments, a private U.S. gas projects operator, for $207 million as it pursues its drive to secure more downstream gas market share.
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"Investing in Tellurian at an early stage will give us the opportunity to potentially strengthen our mid- and long-term LNG portfolio thanks to a very cost competitive project," Philippe Sauquet, Total's president of gas, renewables and power, said in a statement.
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Tellurian Investments' Driftwood project, currently in the engineering design phase, aims to be the lowest-cost LNG producer on the U.S. Gulf, targeting a break even cost of slightly below $6 per million British thermal units (mmBtu) on a free-on-board basis.
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Tellurian is offering equity interests in Driftwood Holdings at $1,2.23 per ton of LNG delivered at cost - expected to be around $3 per million British thermal units (mmBtu)- which Souki said removes the commodity price risk from the customer's list of concerns.
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Tellurian Chairman Charif Souki - who pioneered the first U.S. LNG exports ex-Alaska as head of Cheniere Energy - stirred things up at the Gastech conference in Japan from the start, offering cargoes delivered to Japan at a flat $8 per million British thermal units (mmBtu).
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Tellurian is also developing the $2.2 billion Driftwood pipeline to move up to 4 bcfd of gas across southwest Louisiana and a $3.7 billion pipeline to bring up to 2 bcfd of gas in from the Permian formation, the nation's biggest shale oil basin.
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Tellurian Inc has proposed a project with a price tag of as much as $16 billion that it hopes to complete by 2022, in time to compete for long-term contracts to supply Poland that expire the same year and are held by Russian gas giant Gazprom .
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On the record: In testimony prepared for a House Natural Resources Committee hearing today on the geopolitics of LNG, Tellurian president Meg Gentle says the government plays a key role in both laying the infrastructure groundwork for exports and offering a supportive and efficient regulatory environment.
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Having served as the assistant secretary of State for Energy Resources and headed the pro-fracking Global Shale Gas Initiative, later called the Unconventional Gas Technical Engagement Program, Hochstein then left government and ended up at the natural gas company Tellurian, where he is now executive vice president of LNG marketing.
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"We are on the precipice of the first time I've seen in my career when we have demand-pull and supply-push happening at the same time to support almost $200 billion in infrastructure investment that's needed in the U.S.," said Meg Gentle, president and CEO of LNG company Tellurian.
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"We are happy for all support in moving forward with U.S. LNG exports...We view this announcement as a step forward in improving the balance of trade," said Joi Lecznar, a spokeswoman for Tellurian, which is developing the $13-$16 billion Driftwood LNG export facility in Louisiana, expected to enter service in 2022.
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Martin Houston, co-founder of Tellurian Inc, which wants to make FID this year on a $30 billion LNG project in the United States, said LNG developers who fail to sign major contractors, such as Bechtel Corp or Chiyoda Corp, who can offer fixed price construction contracts are likely to struggle to make much profit.
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S.) Cheniere May 2018 2021 5.0 Projects slated for approval Country/Project Companies FID Start-up Capacitydate date mtpa RUSSIA Sakhalin 2 Train 3 Gazprom, Total 2019 2021 5.0Arctic LNG-2 Novatek, Total Q8.03 2019 2023 19.8Sakhalin 1 Rosneft, Exxon 2019 2025 6.0 UNITED STATES Jordan Cove Pembina 2019 2025 20193Freeport Train 4 Freeport Q2 2019 2023 5.1Driftwood Tellurian H1 2019 2023 27.6Magnolia LNG Ltd Q20243 2019 2023 10.0Lake Charles Shell 2019 2023 16.45Port Arthur Sempra 2019 2023 11.0Rio Grande NextDecade Q15.23 2019 2023 27.0Plaquemines Venture Global H22023 22.4 22018 28.0Brownsville Annova LNG Q22019 22024 20193 22019Cameron Parish Commonwealth LNG 22024 232.0 CANADA Goldboro Pieridae Energy Q4 2019 2024 10.0Woodfibre RGE Group Q2 2019 202024 2.1 MEXICO Costa Azul 1 Sempra 2019 2023 2.4 MIDDLE EAST & AFRICA Nigeria NLNG 2018 8.0Mozambique Exxon 2019 2024 15.2Qatar QP 2019 2024 32.0 (Reporting by Sabina Zawadzki; Editing by Jan Harvey)
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