Tellurian in $500 million senior notes offering

US LNG firm Tellurian, the developer of the Driftwood project in Louisiana, said it has executed definitive agreements to sell $500 million principal amount of senior secured convertible notes.

The offering, subject to customary closing conditions, will bear interest at 6 percent per year, expiring May 1, 2025, and will be convertible into shares of Tellurian common stock at an initial conversion price of $5.724, according to a statement o Wednesday.

Roth Capital Partners and Citigroup served as placement agents for the offering, Tellurian said.

In March, Tellurian issued a limited notice to proceed to Bechtel to begin construction of its Driftwood LNG terminal.

Tellurian is still working to complete financing for the project and expects to start first LNG exports in 2026.

In addition, the Houston-based firm signed three 10-year LNG supply deals for the Driftwood project for a total of 9 mtpa. These include contracts with Gunvor, Vitol as well as Shell.

Phase one of the project will include two LNG plants near Lake Charles with an export capacity of up to 11 mtpa. The full project will have 27.6 mtpa liquefaction capacity.

Most Popular

Cheniere’s Corpus Christi expansion project 82.5 percent complete

The Stage 3 expansion project at Cheniere’s Corpus Christi LNG export plant in Texas is 82.5 percent complete.

Eni: third phase of YPF’s Argentina LNG project requires $20 billion investment

The third phase of YPF's Argentina LNG export project would require an investment of about $20 billion, according to Eni’s COO of global natural resources, Guido Brusco.

Wison scores Suriname FLNG gig

China’s Wison New Energies has signed a detailed feasibility study deal for a newbuild floating liquefied natural gas (FLNG) facility in Suriname's offshore Block 52.

More News Like This

Woodside takes FID on $17.5 billion Louisiana LNG project

Australian LNG player Woodside has made a final investment decision to develop the three-train, 16.5 mtpa Louisiana LNG project. The total capital expenditure for the LNG project, pipeline, and management reserve is $17.5 billion.

Woodside assessing tariff impact on Louisiana LNG

Australian LNG player Woodside is assessing the impact of recent US tariffs and other trade measures on its Louisiana LNG project, according to Woodside CEO Meg O’Neill.

Woodside, Uniper ink Louisiana LNG supply deal

Australia's Woodside has signed LNG sale and purchase agreements with Germany's Uniper to supply the latter from its planned Louisiana LNG project and its global portfolio.

Woodside names Sarah Bairstow as Louisiana LNG head

Australian LNG player Woodside has appointed Sarah Bairstow to lead its Louisiana LNG project.