Tellurian (Buy, TP: USD4.40) - Signing 3m tonnes to Gunvor
Tellurian announced this morning an agreement to sell 3mtpa of LNG to Gunvor, FOB from the Driftwood LNG, for a period of 10 years and at a price linked to a combination of JKM and TTF. This is its first major contract announcement since 2019, and we believe is just the first of more positive news in the next few quarters.Tellurian is developing a portfolio of natural gas production, liquefied natural gas (LNG) marketing, and infrastructure assets that includes an LNG terminal facility (the Driftwood terminal), and three related pipelines (the Pipeline Network). The proposed Pipeline Network will consist of three pipelines, the Driftwood pipeline, the Haynesville Global Access Pipeline and the Permian Global Access Pipeline. The Driftwood pipeline interconnect with existing interstate pipelines throughout southwest Louisiana to secure adequate natural gas feedstock for the Driftwood terminal. The Driftwood pipeline will be comprised of pipeline segments and compressor stations.
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