Tellurian stock falls after company extends U.S. LNG sale negotiations with Petronet [Reuters]
Tellurian Inc. (TELL)
Last tellurian inc. earnings: 2/24 07:00 am
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Source: Reuters
Tellurian stock falls after company extends U.S. LNG sale negotiations with Petronet (Reuters) - Tellurian Inc ( TELL.O ) stock dropped on Thursday after the company said it extended the amount of time India’s Petronet LNG Ltd ( PLNG.NS ) had to finalize an agreement to buy liquefied natural gas (LNG) from Tellurian’s Driftwood plant in Louisiana. Tellurian announced the extension following a report that Petronet issued a request for information to buy about 1 million tonnes per annum (MTPA) of LNG for 10 years starting from 2024. Shares in Tellurian, which is developing the $27.5 billion Driftwood project, fell over 16% to $3.675, their lowest since August 2016. 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. That agreement, worth about $2.5 billion, was expected to be finalized by March 31. Tellurian said the companies extended the
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