AmericasCorporate

Tellurian continues to slash debt

By LNG Prime Staff
Tellurian continues to slash debt
Driftwood LNG (Image: Tellurian)

US LNG export project developer Tellurian said on Monday it continued to reduce the firm’s debt following an announcement in February.

The firm said in a statement it has repaid its 2019 term loan in full after making a voluntary prepayment of about $38 million using cash on hand.

As a result of this prepayment, Tellurian has reduced its outstanding debt balance to about $21 million, it said.

“Tellurian continues to deleverage the balance sheet and make progress on our commercial efforts. We are planning to pay off the remaining $21 million in debt obligations from upstream generated cash flows and cash on hand in the coming months,” chief executive Octávio Simões said.

Tellurian is on the hunt to secure deals for its 27.6 mtpa Driftwood development as it looks to take a final investment decision on the project.

Moreover, France’s Total is currently the only company that made a firm commitment to support the project with a $500 million investment.

Most Popular

Vessels

BW upgrades LNG carrier

Oslo-based BW LNG, a unit of Singapore’s gas shipping giant BW, is upgrading its 2019-built LNG carrier BW Pavilion Aranda with a sub-cooler.
Vessels

Samsung Heavy bags orders for six LNG carriers

South Korean shipbuilding giant Samsung Heavy Industries has secured contracts worth $1.54 billion to build six liquefied natural gas (LNG) carriers.
Contracts and Tenders

Sempra, ConocoPhillips seal another 20-year Port Arthur LNG SPA

US energy giant ConocoPhillips has signed a deal with compatriot LNG exporter Sempra Infrastructure, a unit of Sempra, to buy a total of 80 million tonnes of LNG from the proposed second phase of the Port Arthur LNG project in Texas. With this deal, ConocoPhillips will buy a total of 180 million tonnes of LNG from both Port Arthur phases.

More News Like This

LNG Terminals

Work progresses on Woodside’s Louisiana LNG export plant

Australian LNG player Woodside is moving forward with construction work on its Louisiana LNG export terminal.
Contracts and Tenders

Woodside, Stonepeak wrap up Louisiana LNG stake sale

Australian LNG player Woodside has completed the previously announced sell-down of a 40 percent stake in its Louisiana LNG project to US private equity firm Stonepeak.
Contracts and Tenders

Aramco plans to join Woodside’s Louisiana LNG project

Saudi Arabia’s energy behemoth Aramco plans to take a stake in Woodside's Louisiana LNG export project.
Contracts and Tenders

Wood bags Louisana LNG pipeline gig from Woodside

UK-based consulting and engineering firm Wood has secured a contract from Australian LNG player Woodside for the latter's Line 200 pipeline project, which will deliver natural gas to the recently approved Louisiana LNG project.

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA