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Tellurian’s Driftwood Natural Gas Transmission Pipeline Project Receives FERC Certificate
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Tellurian Inc. announced on April 21, 2023, that the U.S. Federal Energy Regulatory Commission (FERC) granted a certificate for the Driftwood Pipeline Project, which includes Lines 200 and 300. This $1.4 billion natural gas transmission project in Louisiana can transport up to 5.5 billion cubic feet of natural gas daily, utilizing innovative electric-powered compressor technology from Baker Hughes to ensure low emissions. Tellurian's President and CEO, Octávio Simões, expressed gratitude to FERC for its collaborative review, highlighting the project’s aim to deliver cleaner energy reliably. Tellurian is focused on building a low-cost global natural gas business, with an extensive LNG export facility and pipeline development.
Positive
FERC approval of Driftwood Pipeline Project enhances future gas delivery capabilities.
The project uses electric-powered compressors, minimizing emissions.
Negative
None.
Baker Hughes zero-emissions electric-powered compressor technology proposed for cleaner energy delivery
HOUSTON--(BUSINESS WIRE)--
Tellurian Inc. (Tellurian) (NYSE American: TELL) announced that the U.S. Federal Energy Regulatory Commission (FERC) issued the certificate on April 21, 2023 granting authorization for Driftwood Pipeline, LLC’s Line 200 and Line 300, an approximate $1.4 billion natural gas transmission project proposed to be located in Beauregard and Calcasieu Parishes, Louisiana. The pipelines will have the ability to supply up to five and one-half billion cubic feet of natural gas daily with virtually no emissions due to the implementation of electric-powered Integrated Compressor Line (ICL) technology from Baker Hughes.
Tellurian President and CEO Octávio Simões said, “Tellurian thanks the FERC for their thorough and collaborative review of our Driftwood Pipeline Project and we look forward to delivering natural gas in a cleaner and highly reliable way to Southwest Louisiana.”
About Tellurian Inc.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL”.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward- looking statements. Forward-looking statements herein relate to, among other things, the capacity, cost, emissions and other aspects of the transmission project. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2022, filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 22, 2023, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
What is the Driftwood Pipeline Project proposed by Tellurian?
The Driftwood Pipeline Project is a $1.4 billion natural gas transmission initiative authorized by FERC to supply up to 5.5 billion cubic feet of gas daily.
When did Tellurian receive FERC certification for its pipeline?
Tellurian received FERC certification for the Driftwood Pipeline on April 21, 2023.
What emissions reduction technology is used in the Driftwood Pipeline?
The pipeline utilizes electric-powered Integrated Compressor Line technology from Baker Hughes to achieve low emissions.
How does the Driftwood Pipeline affect Tellurian's business strategy?
The Driftwood Pipeline supports Tellurian's strategy of building a low-cost, global natural gas business and enhancing cleaner energy delivery.
