Tellurian Inc. has introduced that it has up to date its Driftwood LNG financing technique to prioritise securing fairness companions. A part of this technique consists of introducing flexibility in its LNG portfolio, with the termination of two present Gross sales and Buy Agreements (SPAs).
President and CEO, Octávio Simões, mentioned: “The potential company and strategic companions we’re in search of might want LNG volumes that they’ll promote globally and now we’ve some capability to supply that choice. We have now made good progress on our building plan and can proceed funding that with our money and working money circulate.”
Simões added: “What has not modified for Tellurian is that we’re an working pure fuel producer with income from our fuel gross sales. Final quarter, we produced 9 billion ft3 of pure fuel and had over US$61 million in gross sales, and since then we’ve closed the EnSight acquisition. At the moment, we’ve 11 pure fuel wells in numerous levels of completion and subsequently anticipate a big enhance in manufacturing and gross sales subsequent quarter. As well as, we’ll add to our price when our absolutely permitted Driftwood LNG undertaking is accomplished, and we are able to attain the worldwide markets with LNG gross sales at world costs.”
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/27092022/tellurian-updates-financing-process-for-driftwood-lng/
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