Tellurian Receives FERC Extension for Driftwood LNG [Yahoo! Finance]
Tellurian Inc. (TELL)
Last tellurian inc. earnings: 2/24 07:00 am
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Source: Yahoo! Finance
Federal Energy Regulatory Commission (FERC) has issued an extension to its order authorizing the construction of Tellurian's Driftwood LNG facility near Lake Charles, Louisiana. As extended, the order requires construction to be completed by April 18, 2029. Tellurian applied for the extension last year to ensure it had enough time to complete the construction of all five plants of the facility. When completed, the facility will have a capacity of ~27.6 million tonnes per annum (mtpa). Chief Executive Officer Octávio Simões said, "Tellurian thanks FERC for working with our team to ensure the safe construction of Driftwood LNG. FERC has been diligent in its oversight, having visited the site 19 times already, and provided careful examination of this extension request. We have invested over a billion dollars into Driftwood LNG's development, we have our approval to export and all applicable construction permits, and we are eager to provide the world with liquefied natural gas exports."
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