Tellurian engages Societe Generale as financial advisor for Driftwood LNG
HOUSTON, TX -- (Marketwired) -- 03/10/17 -- Tellurian Inc. (NASDAQ: TELL) ("Tellurian") announced today that they have selected SG Americas Securities, LLC to provide general financial strategy and planning for the development and financing of Driftwood LNG, their 26 million tonnes per annum (mtpa) liquefied natural gas (LNG) export project near Lake Charles, Louisiana in the US Gulf Coast. SG Americas, LLC is the US broker-dealer subsidiary of Société Générale Corporate and Investment Banking (SG CIB). SG CIB, the investment banking arm of Société Générale, is a leading provider of global finance, investment banking and global markets services globally.
Tellurian President and CEO Meg Gentle said, "The advisory team at SG is a leader in LNG financing. With their expertise at hand, we will move forward with the financial structuring of Driftwood LNG. We anticipate construction in 2018 and first LNG from Driftwood LNG in 2022."
Tellurian Investments Inc. was founded as a private company on February 23, 2016, by Charif Souki and Martin Houston. On February 10, 2017, it merged with a wholly owned subsidiary of Magellan Petroleum Corporation. Upon close of the merger, Magellan Petroleum Corporation changed its name to Tellurian Inc. (Tellurian), and is listed on the Nasdaq under the symbol TELL. The employees and contractors of Tellurian are experienced industry experts developing low-cost LNG infrastructure projects along the United States Gulf Coast. The team plans to deliver low-cost LNG to customers from Driftwood LNG, a 26 million tonnes per annum liquefied natural gas export facility expected to become operational in 2022.
For more information, please see the company's website at www.tellurianinc.com.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words "anticipate," "assume," "believe," "budget," "estimate," "expect," "forecast," "initial," "intend," "may," "plan," "potential," "project," "should," "will," "would," and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the performance, timing and permitting of Tellurian's Driftwood LNG project. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about the development and performance of the Driftwood LNG project, other matters discussed in the "Risk Factors" section of the Registration Statement on Form S-3 filed by Tellurian with the Securities and Exchange Commission (the "SEC") on February 10, 2017, and other filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
SVP Public Affairs and Communication
Director, Investor Relations
Source: Tellurian, Inc.
Released March 10, 2017