Tellurian lining up partners for Driftwood LNG

The Houston-based LNG export project developer Tellurian said 20 companies have shown interest in partnering the company on its Driftwood LNG terminal project. 

The company, founded by Charif Souki and Martin Houston, is developing a 27.6 mtpa LNG export facility and an associated pipeline in Louisiana.

Tellurian president and CEO Meg Gentle, said, “There are more than 20 companies conducting detailed analysis in our data room for Driftwood Holdings and we expect to be able to identify our partners soon.”

Gentle added the company intends to start the construction of the facility in 2019 and produce first LNG in 2023.

In its quarterly report, Tellurian reminded it has initiated the process to raise $24 billion for Driftwood Holdings, which will own the Driftwood liquefied natural gas (LNG) export facility, one or more pipelines, and natural gas production assets.

The company generated approximately $6 million in revenue from LNG marketing, and ended its first quarter of 2018 with approximately $112.5 million of cash and cash equivalents, remaining debt free.