Tellurian receives FERC scheduling notice for Driftwood LNG
HOUSTON, TX -- (Marketwired) -- 12/27/17 -- Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that the Federal Energy Regulatory Commission (FERC) has issued the notice of schedule for environmental review of Driftwood LNG, a proposed 27.6 million tonnes per annum (mtpa) liquefied natural gas (LNG) export facility, and Driftwood Pipeline, a proposed 96-mile, 4 billion cubic feet a day (Bcf/d) pipeline. According to the notice, FERC will issue its final Environmental Impact Statement (EIS) on October 12, 2018, and has established a 90-day Federal Authorization Decision Deadline on January 10, 2019. Assuming a favorable decision, Tellurian expects that this schedule will allow it to begin construction of Driftwood LNG in early 2019, pending a final investment decision by Tellurian.
|Estimated Driftwood Project timeline|
|Driftwood commercial agreements||1H 2018|
|Draft Environmental Impact Statement||1H 2018|
|Final Environmental Impact Statement||12 October 2018|
|FERC order and Federal Authorization Deadline||10 January 2019|
|Driftwood final investment decision||1H 2019|
|Begin construction||1H 2019|
About Tellurian Inc.
Tellurian was founded by Charif Souki and Martin Houston and is led by President and CEO Meg Gentle. Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol "TELL".
For more information, please visit www.tellurianinc.com.
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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 capacity, performance, timing, permitting, construction and operations of Driftwood LNG and the Driftwood Pipeline, including our entry into Driftwood commercial agreements and the timing and outcome of a final investment decision. 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 the matters discussed in Item 1A of Part II of the Quarterly Report on Form 10-Q for the quarter ended September 30, 2017 filed by Tellurian with the Securities and Exchange Commission (the "SEC") on November 9, 2017, and other filings with the SEC, all of which are incorporated by reference herein. The regulatory approvals necessary to construct and complete Driftwood LNG and the Driftwood Pipeline may not be received in a timely manner or at all, or may be granted subject to conditions that are adverse to Tellurian. 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 December 27, 2017