Tellurian continues to slash debt

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

Venture Global’s Plaquemines LNG seals new gas supply deal

Venture Global LNG’s Plaquemines LNG has signed a new natural gas sale and purchase deal with gas marketer Tenaska Marketing Ventures, according to a DOE filing.

TotalEnergies working on Mozambique LNG restart, CEO says

France's TotalEnergies and its partners in the giant Mozambique LNG project are still working with the Mozambique government on restarting construction on the 12.8 mtpa project, according to Patrick Pouyanne, CEO of TotalEnergies.

Shell takes FID on Egypt gas project

A unit of UK-based LNG giant Shell has taken the final investment decision for the development of the Mina West gas discovery in Egypt’s Mediterranean Sea.

More News Like This

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.

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.

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.

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.