CHUNYIP WONG/E+ through Getty Pictures
Tellurian (NYSE:TELL) is in talks with Japanese and Indian firms, in addition to oil majors and upstream firms, about potential investments in its deliberate Driftwood liquefied pure gasoline plant on the Louisiana coast, CEO Octavio Simoes instructed Nikkei on Monday.
Driftwood LNG’s deliberate annual capability of 11M metric tons represents greater than 10% of LNG demand in Japan, the world’s prime importer of the gas.
Japanese firms have been concerned within the launch of three U.S.-based LNG initiatives, and growing imports from the U.S. would assist guarantee a secure provide for Japan.
The Driftwood LNG venture was dealt a significant blow when two of its prime prospects, Shell and Vitol, canceled long-term offers final yr totaling 6M tons/yr, and Tellurian (TELL) is making an attempt to avoid wasting the venture underneath an association that can let fairness companions offtake LNG based mostly on their stakes.
“We proceed to place collectively the items to have superior discussions with potential fairness companions… so it’s totally enticing,” Simoes mentioned to Nikkei.
Tellurian (TELL) surges final week on information it entered right into a binding letter of intent with a significant institutional investor to promote for $1B and lease again for 40 years ~800 acres of owned and leased land for use for the proposed Driftwood LNG venture.
