US LNG firm Tellurian said it would transfer the listing of its common stock from the Nasdaq Capital Market to the NYSE American.
The Driftwood LNG export project developer said its common stock would begin trading on the NYSE American on November 2, 2021, and would remain under the current symbol “TELL”.
Tellurian expects trading of the common stock on its current platform to continue until the close of business on November 1, 2021.
Co-founder and executive chairman Charif Souki said transferring of the company’s stock listing to the NYSE American “allows us to leverage the exchange’s prestigious trading platform for our shareholders’ benefit.”
According to Souki, global natural gas shortages and recent history-making prices indicate the “pressing need” for additional liquefaction export capacity in the US.
“Tellurian is poised to contribute to America’s status as an energy superpower, having achieved both regulatory permits and commercial success for Driftwood LNG phase one development,” he said.
“We have turned our focus to putting together a world class banking group and have started site preparation, in advance of giving our partner Bechtel notice to proceed with construction expected first quarter 2022,” he said.
Tellurian is developing the 27.6 mtpa Driftwood LNG export project in Louisiana.
The Houston-based firm has this year signed three 10-year LNG supply deals for the project for a total of 9 mtpa. These include contracts with Gunvor, Vitol, as well as with Shell.
