Magellan, Tellurian complete merger

Magellan, Tellurian complete merger
Rendering of the Driftwood LNG project (Image courtesy of Tellurian)

Magellan Petroleum, an independent oil and gas exploration and production company, on Friday, said it has completed its merger with Tellurian Investments, under the name Tellurian Inc. 

As part of finalizing the merger, Tellurian has appointed Antoine Lafargue previously the chief executive officer of Magellan, as the merged company’s CFO.

Tellurian Investment was 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.

Commenting on the completion of the merger, Meg Gentle, Tellurian’s president and CEO said the company is focused on delivering LNG to the global market as it progresses the development of “large-scale energy infrastructure on the U.S. Gulf Coast, including the 26 million tons per annum Driftwood LNG facility in Calcasieu Parish, Louisiana, which is scheduled to begin construction in 2018.”

Gentle said a formal permit application with the Federal Energy Regulatory Commission is the next milestone in the development of the project.

The joint company plans to start operations at its Driftwood LNG plant in 2022.

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