Tellurian’s Driftwood LNG Receives Draft Environmental Impact Statement
September 14 2018 - 1:57PM
Business Wire
Tellurian Inc. (Tellurian) (NASDAQ: TELL) received its draft
environmental impact statement (EIS) today from the United States
Federal Energy Regulatory Commission (FERC) for the Driftwood LNG
terminal facility and the associated Driftwood pipeline (the
Driftwood Project). The draft EIS has been prepared in compliance
with the requirements of the National Environmental Policy Act
(NEPA), the Council on Environmental Quality regulations for
implementing NEPA, and FERC regulations. The draft EIS is the
culmination of an extensive evaluation process, including months of
assessment and feedback from federal and state agencies and the
public with respect to the Driftwood Project.
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Tellurian President and CEO Meg Gentle
(Photo: Business Wire)
President and CEO Meg Gentle said, “We appreciate the hard work
the FERC, U.S. Coast Guard, PHMSA and supporting agencies have put
forth to ensure the Driftwood Project can produce LNG safely and
efficiently beginning in 2023. Publication of the draft EIS is a
significant milestone in the regulatory process for the project and
was completed ahead of the FERC’s recently updated schedule. We
continue to work in partnership with all the regulatory agencies to
complete the final environmental impact statement (FEIS) by January
2019 and begin construction of the Driftwood Project thereafter,
with approximately $30 billion of infrastructure investment and
nearly 50,000 direct and indirect jobs in at least 18 States.”
Estimated Driftwood project timeline Catalyst
Estimated timeline Final
Environmental Impact Statement
18 January 2019 Driftwood final investment decision
1H 2019 Begin construction
1H 2019 Begin operations
2023
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 capacity, timing, and other aspects of the Driftwood Project,
including the expected investment in the region and potential job
creation. 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 for the fiscal year ended
December 31, 2017 filed by Tellurian with the Securities and
Exchange Commission (the “SEC”) on March 15, 2018, and other
filings with the SEC, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180914005488/en/
Tellurian Inc.Media:Joi Lecznar,
+1.832.962.4044SVP Public Affairs and
Communicationjoi.lecznar@tellurianinc.comorInvestors:Amit
Marwaha, +1.832.485.2004Director, Investor
Relationsamit.marwaha@tellurianinc.com
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