X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 6 hours IS SAUDI ARABIA SENDING A MESSAGE TO BIDEN
  • 1 day America Makes Plans to Produce Needed Rare Earth Minerals Domestically
  • 10 hours Texas forced to have rolling black outs, primarily because of large declines in output from fossil fuel power plants
  • 1 day U.S. Presidential Elections Status - Electoral Votes
  • 3 days Former BP Exec "Biden not in war against oil" . . Really ?
  • 3 days Here we go - again: plug-in hybrids cost motorists more than what they were told
  • 3 days Texas Supply Chain Massacre
  • 1 day Top Conservative Lawyer Says Trump Can Stand Trial
  • 1 day “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 3 days An exciting development in EV Aviation: Volocopter

Tellurian Scraps Two LNG Pipelines To Cut Costs

Tellurian is deferring all but one pipelines associated with the first phase of its proposed Driftwood liquefied natural gas (LNG) export project, the LNG producer said in an investor presentation.

Tellurian has been trying to cut costs for its Driftwood LNG production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana, in view of the depressed market conditions for natural gas amid the pandemic.  

Tellurian has achieved cost reductions of 30 percent in its phase 1 planning for the project, including deferring the proposed Permian Global Access Pipeline, the Haynesville Global Access Pipeline, and the Delhi Connector Pipeline, which leaves just one pipeline to feed natural gas to the facility during phase 1.

The company will also focus on sourcing cheap natural gas for the project, which has secured all permits and is shovel ready, if Tellurian decides to move ahead with the final investment decision (FID).

At the Q2 results release last week, Tellurian’s President and CEO Meg Gentle said:

“Tellurian has used the last few months to streamline Driftwood LNG, which is one of the lowest cost projects available globally at approximately $1,000 per tonne.”

“Tellurian continues working to secure equity partners from around the globe and looks forward to delivering reliable energy in 2024,” Gentle added.

Last month, Tellurian sold $35 million worth of new stock to a group of institutional investors to prop up its finances as the outlook for LNG remains pessimistic.

Depressed global LNG demand continues to drive buyers of U.S. LNG to cancel cargoes for loadings in September.

Earlier this year, when demand for natural gas across the world plunged due to the pandemic, buyers began to scrap loadings of U.S. LNG, as gas in storage from Europe to Asia was abundant after a milder winter and the coronavirus that wiped out a lot of previously expected demand.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News