Tellurian Files Application for New Pipeline Project to Serve Southwest Louisiana; Design Incorporates Electric Compression t...
June 22 2021 - 10:57AM
Business Wire
Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that
its wholly owned subsidiary Driftwood Pipeline LLC has submitted a
formal application with the Federal Energy Regulatory Commission
(FERC) to construct and operate Line 200 and 300, an approximately
37-mile, dual 42-inch diameter interstate pipeline that will
originate near Ragley in Beauregard Parish, Louisiana and end near
Carlyss in Calcasieu Parish, Louisiana. The new pipeline has been
designed and routed to connect the supply located 21 miles north of
Lake Charles to the demand located within and south of Lake
Charles, bypassing what has become a constrained, complex and
expensive transportation pathway.
As part of the design, Driftwood Pipeline is proposing to deploy
Baker Hughes-supplied electric-driven compression, thereby reducing
the pipeline’s carbon dioxide emissions by more than 99%. The
proposed pipeline project, coupled with other strategic steps
Tellurian is taking, will lead to nearly a one million tonne
reduction per year in direct greenhouse gas emissions (a 14%
overall reduction).
President and CEO Octávio Simões said, “This new and completed
pipeline design provides definitive and measurable results for
emissions reduction and is another step in Tellurian’s overall
strategy to support and balance the world’s energy needs and
environmental concerns.”
“Tellurian has demonstrated our commitment to providing a
cleaner energy source for the growing global population through
early support of impactful environmental studies, new
infrastructure design with advanced materials, and leading
environmental procedures for our upstream operations. In addition,
our latest commercial agreements have included provisions for
tracking and documentation of liquefied natural gas cargo
emissions. Tellurian will continue to explore ways to collaborate
with the U.S. Administration and contribute to its plan for a
cleaner climate with a focus on upending energy poverty
domestically and abroad,” Simões added.
Tellurian has advocated for multiple environmental improvement
efforts and contributed nearly $3 million to financially support
Columbia University’s Center on Global Energy Policy and its
mission to advance actionable energy and climate solutions through
research and education; a multi-sponsor study of hydrogen market
formation by the Energy Futures Initiative led by former Secretary
of Energy Ernest Moniz; and the University of Texas at Austin,
which is conducting an energy life-cycle analysis. Operationally,
Tellurian currently owns and operates upstream assets in the dry
gas Haynesville shale formation and conducts emissions monitoring
and green completions as part of our continued efforts to
understand, report and minimize greenhouse gas emissions.
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.
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, the proposed pipeline and its
benefits, reductions in emissions, and policy efforts. 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. 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/20210622005840/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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