Tellurian reports completion of Driftwood LNG FEED

Tellurian Inc. announced today Bechtel has completed the front-end engineering and design study and submitted a lump sum turnkey engineering, procurement, and construction proposal for the Driftwood LNG terminal. The Driftwood Project is a planned ~ 26 mtpa LNG export facility near Lake Charles, Louisiana, and an associated pipeline.

President and CEO Meg Gentle said, "Completion of the FEED study is an important accomplishment in the development of the Driftwood Project. The FEED study is the culmination of a year's work and a testament to the strength of the Bechtel, GE, Chart, and Tellurian engineering teams. The EPC proposal differentiates the Driftwood Project from other projects by enhancing cost certainty, which will support commercial and financing discussions. We anticipate executing a binding EPC agreement with Bechtel this autumn, and we intend to begin producing LNG in 2022."

Estimated Driftwood Project timeline as of August 9, 2017

LSTK EPC contract: Mid-2017

LNG sales and purchase agreements: 1H 2018

FERC construction authorization : Mid-2018

Liquefaction project financial close: Mid-2018

Begin construction: Mid-2018

Begin operations: 2022

Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol "TELL".