Tellurian raises additional funds for Driftwood LNG

Tellurian raises additional funds for Driftwood LNG
The proposed Driftwood LNG project (Image: Tellurian)

The Houston-based LNG export project developer, Tellurian, secured additional funds for detailed engineering of its proposed Driftwood LNG terminal and associated pipeline in Southwest Louisiana. 

The underwriters in the previous public offering of 10 million shares have exercised the over-allotment option and purchased additional 1.5 million company shares.

Tellurian said the net proceeds from the exercise of the over-allotment option were approximately $14.5 million following fees and expenses deduction.

The company initially raised about $94.8 million, which will also be used for detailed engineering of its proposed Driftwood LNG project and an associated pipeline in Southwest Louisiana, general corporate purposes and working capital.

The company’s Driftwood LNG project will include 20 liquefaction units, each having an expected production capacity of 1.38 million tons per year of LNG and three 235,000 cubic meter storage tanks as well as three marine loading berths, to be constructed in four phases.

Share this article

Follow LNG World News

Events>

<< Sep 2018 >>
MTWTFSS
27 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

The Nineteenth CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry.

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >

CWC World LNG & Gas Series: 10th Asia Pacific Summit

Now in its tenth year, CWC World LNG & Gas Series: Asia Pacific Summit returns to Singapore on 16 – 18 October 2018…

read more >

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >