Tellurian Inc (TELL)

[9HikeDiscGolf]

NG carrier of Tellurian firm of Ex-Cheniere CEO Charif Souki lifts Angolan cargo to trade
Tuesday, 02 January 2018


US Driftwood LNG project developer, Tellurian Inc., was expected to lift a cargo from the Angolan LNG plant at Soyo in southwest Africa on a vessel it has chartered for six months from a European shipping company.

The “Maran Gas Mystras” was berthed at Soyo on January 2 and was awaiting orders for a delivery destination, according to shipping data.

Tellurian entered into a six-month time charter in October 2017 for the modern LNG carrier to start gaining market exposure by trading during the 2017-2018 Northern Hemisphere winter.

Tellurian, founded by former Cheniere Energy Chief Executive Charif Souki and by Martin Houston, who ran the operations of the LNG portfolio company, BG of the UK, has additionally purchased shale-gas assets while its project is going through the regulatory process.

The “Maran Gas Mystras” is a tri-fuel diesel electric propulsion vessel with 160,000 cubic metres of storage capacity.

The vessel was delivered in 2015 to owner Maran Gas, the LNG shipping unit of the Angelicoussis Shipping Group, a private company based in Athens, Greece.

Tellurian took over the carrier for the short-term charter at the port of Galle in Sri Lanka on October 1. No details of the rates were disclosed, though vessels like the “Maran Gas Mystras” have during 2017 cost between $30,000 and $35,000 per day to hire.

Tellurian Chief Executive Meg Gentle, also a former Cheniere executive, has said that developing LNG marketing capabilities is one of the companies aims before its proposed Driftwood LNG begins operations in 2022.

Tellurian is building its Driftwood plant in Louisiana and the Federal Energy Regulatory Commission (FERC) had issued the notice of schedule for environmental review of the venture with production capacity of 27.6 million tonnes per annum and its associated pipeline.

According to the notice, FERC will issue its final Environmental Impact Statement (EIS) on October 12, 2018, and has established a 90-day Federal authorization decision deadline on January 10, 2019.

“Assuming a favorable decision, Tellurian expects that this schedule would allow it to begin construction of Driftwood LNG in early 2019, pending a final investment decision by Tellurian,” said the company.

Tellurian has selected a 1,000-acre site on the west bank of the Calcasieu River near the town of Carlyss in Calcasieu Parish.

Tellurian recently agreed to acquire acreage in Haynesville Shale play in the northwest of the state of Louisiana to add potential gas assets to its portfolio for future export. It is also proposing to build two additional pipelines to the one under the current FERC process.

https://lngjournal.com/index.php/latest-news-mainmenu-47/item/93357-chartered-lng-carrier-of-tellurian-firm-of-ex-cheniere-ceo-souki-lifts-angolan-cargo-to-trade