Tellurian, Total finalize Louisiana Driftwood LNG export plant agreements [Reuters]
Tellurian Inc. (TELL)
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Source: Reuters
Tellurian, Total finalize Louisiana Driftwood LNG export plant agreements - Reuters 3 Min Read (Reuters) - U.S. liquefied natural gas (LNG) developer Tellurian Inc said on Wednesday that units of French oil major Total SA have agreed to buy LNG from the U.S. company’s proposed $30 billion Driftwood export project in Louisiana. Total will buy one million tonnes per annum (mtpa) of LNG from Driftwood and invest $500 million in Driftwood Holdings LP, it said in a statement. Total will also buy an additional 1.5 mtpa of LNG from Tellurian’s offtake volumes from Driftwood. The deal involves LNG free on board at a price based on the Platts Japan Korea Marker (JKM). 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 2023. “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 o
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