Tellurian Inc. announced in a July 29 press release that it has finalized LNG sale and purchase agreements with Shell NA LNG. The SPAs are on a free on board (FOB) basis at Driftwood LNG for a combination of 3 million tons per annum (MTPA) for a 10-year period.
The agreements mark the third deal that Tellurian has finalized in 10 weeks, totaling 9 MTPA and nearly all of the capacity of Driftwood LNG’s first two plants.
President and CEO Octávio Simões says, “Shell manages one of the largest and most diverse portfolios of LNG in the world, and is leading the industry in delivering CO2e neutral LNG cargoes.
“With these SPAs, we have now completed the sales to support the launching of the first two plants,” he adds. “Tellurian will now focus on financing Driftwood, in order to give Bechtel notice to proceed with construction in early 2022.” Read the full press release.