Published on 21 Feb 2024 on Zacks via Yahoo Finance

Tellurian's (TELL) Driftwood LNG Gets 3 More Years From FERC

Tellurian Inc. TELL received an extension from the U.S. Federal Energy Regulatory Commission (FERC) to complete the construction of the Driftwood LNG facility near Lake Charles, LA. The extension allows the company to complete the LNG project by Apr 18, 2029. The original deadline for the project was 2026.

The LNG project involves five plants and twenty trains, along with three storage tanks and as many berths. According to Tellurian, the company had applied for the extension last year, so that it could complete the construction of all the five plants in the facility. Post completion, the facility is expected to have a capacity of 27.6 million tons per annum (MMTPA).

According to TELL, FERC has been working collaboratively with the company to ensure safe construction of Driftwood LNG. The regulatory body has overseen the project diligently and also considered its extension request carefully. Tellurian has invested more than $1 billion for the development of the project.