Tellurian’s Driftwood LNG Receives Authorization for LNG Exports

In the second paragraph of release, Rick Perry's title should be U.S.
Secretary of Energy (instead of U.S. Secretary of State).

The corrected release reads:

TELLURIAN’S DRIFTWOOD LNG RECEIVES AUTHORIZATION FOR LNG EXPORTS

Tellurian (NASDAQ: TELL) announced today that the United States (U.S.)
Department of Energy (DOE) Office of Fossil Energy has issued the
long-term authorization for Driftwood LNG to export domestically
produced liquefied natural gas from its proposed export facility to
non-free trade agreement countries.

U.S. Secretary of Energy Rick Perry said, “I am pleased to announce the
order signed today authorizing Driftwood, owned by Tellurian Inc., to
export up to 3.88 billion cubic feet per day of natural gas as LNG, to
any country that does not have a free trade agreement (FTA) with the
United States. The United States is now in its third consecutive year as
a net exporter of natural gas, now exporting domestic LNG to 35
countries. I applaud the American private sector for continuing to reach
new milestones and look forward to continued growth in this sector.”

“Tellurian thanks the U.S. Administration, Secretary Perry and the DOE
staff for their diligence in authorizing this order that is crucial to
global LNG trade. The U.S. will become a top three LNG exporter and
Tellurian intends to do our part in creating U.S. jobs while delivering
a cleaner energy supply source to the world,” said Tellurian President
and CEO Meg Gentle.

On April 18, 2019, Tellurian completed another regulatory milestone as
the U.S. Federal Energy Regulatory Commission (FERC) issued an order
granting authorization for Driftwood LNG, a proposed ~27.6 million
tonnes per annum (mtpa) liquefaction export facility near Lake Charles,
Louisiana, and the associated Driftwood pipeline, a 96-mile proposed
pipeline connecting to the facility (collectively, the Driftwood
project).

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.
Follow us on Twitter at twitter.com/TellurianLNG

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 construction, capacity, timing and
impact of the Driftwood project, including the final investment decision
relating to the project. 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 of Tellurian for the fiscal year ended
December 31, 2018, and other filings of Tellurian with the Securities
and Exchange Commission, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190502005500/en/

News by QuoteMedia

www.quotemedia.com