Tellurian Shares Drop 21% After LNG Contracts Terminated

By Chris Wack

Tellurian Inc. shares were down 21% to $2.20 after the company said in a filing that it received a notice of termination from Shell NA LNG LLC.

The company said the notice of termination was in regards to liquid natural gas sale and purchase agreements between its Driftwood LNG LLC subsidiary and Shell, signed on July 29, 2021.

Tellurian also said in the filing to the Securities and Exchange Commission that it delivered a notice of termination to Vitol Inc. regarding a LNG sale and purchase agreement signed June 2, 2021, by and between Driftwood LNG LLC and Vitol.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

September 23, 2022 12:33 ET (16:33 GMT)

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