Tellurian Discusses LNG Sales, Petronet Pulls Out

Tellurian Discusses LNG Sales, Petronet Pulls Out

Tellurian has been reportedly negotiating with Asian companies to sell almost half its liquefied natural gas (LNG) output from its proposed Louisiana export terminal, Chairman Charif Souki told Bloomberg.

This comes after Petronet LNG’s CEO backed out from investing in Tellurian’s Driftwood LNG project. Souki, however, indicated that other investors are interested in buying 12 million metric tons of the terminal’s production annually. The deals are expected to be finalized by H1 2021 as construction at Driftwood is expected to begin around June.

Souki added that Tellurian will no longer incorporate memorandums of understanding (MoUs) as preludes to more in-depth deal talks, as their MoU with Petronet was scheduled to expire next month. Souki stated that Tellurian “view an MoU as a moral commitment, but we are no longer looking for moral commitments… We are looking for real commitments, so we will no longer agree to do MoUs.”


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