Driftwood LNG Terminal Update

Yesterday Tellurian reported 2017 fiscal year results. Tellurian reported a net loss of approximately $231.5 million, or $1.23 per share (basic and diluted), for the year ended December 31, 2017.

The company reported $276.8 million in assets, of which $90.9 million represents proved natural gas reserves of approximately 327 billion cubic feet equivalent (Bcfe). With approximately $128.3 million of cash and cash equivalents and remains debt free.

Driftwood LNG owned by Tellurian Inc. is developing a LNG production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. Once complete plans are for the terminal to export up to 27.6 mtpa of LNG per year. Tellurian provided a project timeline below with the 2017 fiscal year results.

President and CEO Meg Gentle said, “In 2017, Tellurian was able to guarantee its project costs, gain a regulatory scheduling notice, and obtain access to capital markets. By integrating our business, we are recognizing the strength of the commoditized LNG market, and we are offering customers the opportunity to share in the benefits of the low-cost structure as our partners. The experienced team at Tellurian is developing asset opportunities representing $29 billion of near-term investments that will deliver natural gas to the growing LNG hub in Southwest Louisiana and enable exports to global markets.”