Tellurian cancels share sale

Tellurian cancels share sale
Image courtesy of Tellurian

Tellurian, the company developing the 26-mtpa Driftwood LNG export facility, and an associated pipeline canceled its plans to sell company shares.

The cancellation comes only a day after the company revealed its plans to sell 10 million company shares.

“Due to the current market environment and in the interest of achieving the best value for our stockholders, we have decided to withdraw our recently announced public offering of common stock,” Meg Gentle, CEO of Tellurian said.

Tellurian was formed through a merger between Magellan Petroleum, an independent oil and gas exploration and production company and Tellurian Investments formed in February 2016, by Charif Souki, former founder and CEO of LNG export player Cheniere Energy and Martin Houston, former COO of BG Group, now owned by Shell.

Tellurian’s two units Driftwood LNG and Driftwood Pipeline have completed the pre-filing phase in April and submitted a formal application with the Federal Energy Regulatory Commission to construct and operate an LNG export facility and a 96-mile pipeline connecting the facility to interstate pipelines.

First LNG is expected to be produced from Driftwood LNG in 2022.

 

LNG World News Staff

Share this article

Follow LNG World News

Posted on May 18, 2017 with tags .

Events>

<< Sep 2017 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

LNG BUNKERING MED

The only 3 day course offering theoretical and practical training on LNG bunkering for the Mediterranean market, the syllabus is accredited…

read more >

International Gas Cooperation Summit (IGCS)

The International Gas Cooperation Summit (IGCS) is a platform for South Africa’s aspirations to build an energy hub for gas cooperation…

read more >

Budapest LNG Summit

Budapest LNG Summit is a niche event focused on the up and coming LNG  region of Central & Eastern Europe (CEE).

read more >

Mozambique Gas Summit & Exhibition

Now in its fourth edition, the Mozambique Gas Summit & Exhibition is recognized as the leading strategic meeting for Mozambique’s gas industry…

read more >