Published on 22 Sep 2022 on Hart Energy via Yahoo Finance
Tellurian Inc.’s decision to ditch a $1 billion high-yield bond issuance related to development of its Driftwood LNG export project jeopardizes initial gas deliveries slated for 2026, Tellurian Executive Chairman Charif Souki revealed in a corporate video.
The Driftwood LNG project, located on the west bank of the Calcasieu River, south of Lake Charles, Louisiana, is a key U.S. export development. The proposed facility is slated to assist Washington by providing necessary energy to allies in Europe and potentially Asia suffering from reduced energy flows from Russia after that country’s military offensive in Ukraine.
“There are days where you look forward to making some announcements then other days and today is one of those days because yesterday we had to pull a financing that would have allowed us to stay on schedule to deliver LNG for the first half of 2026,” Souki said Sept. 20 in the short video.