Tellurian Signs Long-Term Lease with the Port of Lake Charles
June 29 2021 - 2:07PM
Business Wire
Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that
its wholly owned subsidiary Driftwood LNG LLC has exercised its
long-term lease option with the Lake Charles Harbor and Terminal
District on the 477 acre site in Sulphur, Louisiana. The ground
lease agreement has an initial term of 20 years with extension
options of up to 50 years.
Executive Vice President and Chief Operating Officer Keith
Teague said, “Tellurian is taking necessary steps to prepare for
Driftwood LNG construction by entering into this long-term lease
and executing certain projects such as road improvements and
utility relocation. We have an active and productive relationship
with Port of Lake Charles officials and they have been helpful
partners from the early development and site selection of our
liquefied natural gas export terminal. Tellurian appreciates and
thanks the Lake Charles Harbor and Terminal District Board of
Commissioners for their hard work and the ongoing role they will
play in the success of Driftwood LNG.”
Carl J. Krielow, President of the Board of Commissioners of the
Lake Charles Harbor and Terminal District commented, “Driftwood LNG
will bring over 6,500 construction jobs, about 400 operational jobs
and millions of dollars in tax revenue and spending to Southwest
Louisiana. As a Board, we will continue to support key developments
in our dynamic deepwater seaport that enhance our community and
citizens.”
About Tellurian Inc.
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 marketing and 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
About the Port of Lake Charles/ Lake Charles Harbor and
Terminal District
The Port of Lake Charles is one of America’s top dozen ports, as
measured by U.S. Commerce Department tonnage statistics. It imports
and exports more than 4.3 million tons of cargo annually and trades
with more than 70 nations worldwide.
The Port also leases property for gaming, LNG, industrial and
other business purposes —and, with the Calcasieu Ship Channel,
forms “America’s Energy Corridor,” an anchor of the Southwest
Louisiana economy.
The Port’s new leadership team is headed by Richert L. Self,
executive director.
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,” “continue,”
“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, construction and pre-construction
activities at Driftwood. 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, 2020, and other
Tellurian filings with the Securities and Exchange Commission, all
of which are incorporated by reference herein. Full construction of
Driftwood LNG is subject to, among other things, a final investment
decision with respect to Driftwood LNG; and reaching a final
investment decision will require Tellurian to obtain significant
amounts of additional capital. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210629005962/en/
Media: Joi Lecznar EVP Public and Government Affairs
Phone +1.832.962.4044 joi.lecznar@tellurianinc.com
Investors: Matt Phillips Vice President, Investor
Relations Phone +1.832.320.9331
matthew.phillips@tellurianinc.com
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