HOUSTON–(BUSINESS WIRE)–Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to construct its built-in international pure fuel enterprise. Notable Tellurian achievements in the course of the third quarter of 2019 and thereafter:
- Introduced a Memorandum of Understanding (MOU) with Petronet LNG Restricted INDIA (Petronet) for Petronet and its associates to buy of as much as 5 million tonnes every year (mtpa) of liquefied pure fuel (LNG) from Driftwood, concurrent with an fairness funding by Petronet in Driftwood. The settlement, exchanged within the presence of Prime Minister Narendra Modi and acknowledged by the governments of India and the US, stays topic to additional due diligence and approval of Petronet’s board of administrators, and Tellurian and Petronet will endeavor to finalize the transaction agreements by March 31, 2020.
- Proceed to advance negotiations for the sale of LNG and pursuits in Driftwood with a number of counterparties.
- Progressed the engineering for the Driftwood liquefaction terminal, finishing 26% of the whole required.
- Started the Federal Power Regulatory Fee (FERC) pre-filing course of for the Permian World Entry Pipeline, a 625-mile, 42-inch interstate pure fuel pipeline proposed from the Waha Hub in West Texas to close Lake Charles, Louisiana.
President and CEO Meg Mild mentioned, “Tellurian continues to execute on all sides of our technique, together with the completion of 26% of the engineering required for Driftwood, which makes Driftwood essentially the most superior pre-construction terminal in the US. We’re on schedule to supply first LNG in 2023.”
Tellurian ended its third quarter of 2019 with roughly $91.1 million of money and money equivalents and roughly $133.2 million in debt. Tellurian has a powerful stability sheet consisting of roughly $394.1 million in property.
Tellurian reported a web lack of roughly $39.6 million, or $zero.18 per share (primary and diluted), for the three months ended September 30, 2019.
About Tellurian Inc.
Tellurian was based by Charif Souki and Martin Houston and is led by President and CEO Meg Mild. Tellurian intends to create worth for shareholders by constructing a low-cost, international pure fuel enterprise, profitably delivering pure fuel to prospects worldwide. Tellurian is growing a portfolio of pure fuel manufacturing, LNG buying and selling, and infrastructure that features an ~ 27.6 mtpa LNG export facility and an related pipeline. Tellurian relies in Houston, Texas, and its frequent inventory is listed on the Nasdaq Capital Market beneath the image “TELL”.
For extra data, please go to www.tellurianinc.com. Observe us on Twitter at twitter.com/TellurianLNG
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press launch incorporates forward-looking statements inside the that means of U.S. federal securities legal guidelines. The phrases “anticipate,” “assume,” “imagine,” “finances,” “estimate,” “anticipate,” “forecast,” “preliminary,” “intend,” “might,” “plan,” “potential,” “venture,” “proposed,” “ought to,” “will,” “would,” and comparable expressions are supposed to determine forward-looking statements. Ahead-looking statements herein relate to, amongst different issues, the capability, timing, and different features of the Driftwood venture, investments in and development of that venture, a possible fairness funding by Petronet within the Driftwood venture, and a possible buy by Petronet of LNG from the Driftwood terminal. These statements contain a lot of recognized and unknown dangers, which can trigger precise outcomes to vary materially from expectations expressed or implied within the forward-looking statements. These dangers embrace the issues mentioned in Merchandise 1A of Half I of the Annual Report on Type 10-Okay of Tellurian for the fiscal yr ended December 31, 2018, and different Tellurian filings with the Securities and Alternate Fee, all of that are integrated by reference herein. There will be no assurance that contemplated transactions will likely be accomplished as deliberate. FID is topic to the completion of financing preparations that might not be accomplished inside the time-frame anticipated or in any respect. Attaining FID would require substantial quantities of financing along with that contemplated by the agreements described on this press launch. The forward-looking statements on this press launch communicate as of the date of this launch. Though Tellurian might on occasion voluntarily replace its prior forward-looking statements, it disclaims any dedication to take action besides as required by securities legal guidelines.
On or earlier than November eight, 2019, Tellurian will submit to its web site, tellurianinc.com, a podcast discussing its outcomes of operations and monetary situation as of and for the quarter ended September 30, 2019 and different features of its enterprise and operations. The podcast could also be discovered beneath the “Information and displays” tab.