Tellurian’s Driftwood LNG Receives Draft Environmental Impact Statement
HOUSTON--(BUSINESS WIRE)-- Tellurian Inc. (Tellurian) (NASDAQ: TELL) received its draft environmental impact statement (EIS) today from the United States Federal Energy Regulatory Commission (FERC) for the Driftwood LNG terminal facility and the associated Driftwood pipeline (the Driftwood Project). The draft EIS has been prepared in compliance with the requirements of the National Environmental Policy Act (NEPA), the Council on Environmental Quality regulations for implementing NEPA, and FERC regulations. The draft EIS is the culmination of an extensive evaluation process, including months of assessment and feedback from federal and state agencies and the public with respect to the Driftwood Project.
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Tellurian President and CEO Meg Gentle (Photo: Business Wire)
President and CEO Meg Gentle said, “We appreciate the hard work the FERC, U.S. Coast Guard, PHMSA and supporting agencies have put forth to ensure the Driftwood Project can produce LNG safely and efficiently beginning in 2023. Publication of the draft EIS is a significant milestone in the regulatory process for the project and was completed ahead of the FERC’s recently updated schedule. We continue to work in partnership with all the regulatory agencies to complete the final environmental impact statement (FEIS) by January 2019 and begin construction of the Driftwood Project thereafter, with approximately $30 billion of infrastructure investment and nearly 50,000 direct and indirect jobs in at least 18 States.”
|Estimated Driftwood project timeline|
|Final Environmental Impact Statement||18 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,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood Project, including the expected investment in the region and potential job creation. 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 I of the Annual Report on Form 10-K for the fiscal year ended December 31, 2017 filed by Tellurian with the Securities and Exchange Commission (the “SEC”) on March 15, 2018, 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.
Joi Lecznar, +1.832.962.4044
SVP Public Affairs and Communication
Amit Marwaha, +1.832.485.2004
Director, Investor Relations
Source: Tellurian Inc.
Released September 14, 2018