Tellurian chairman Charif Souki speaking at a gas event
Debt cliff looms for Tellurian
Question marks over Driftwood LNG project as would-be LNG exporter scrambles to service creditors
US LNG developer Tellurian had spoken optimistically about reaching FID on its landmark Driftwood LNG project this year. In July, French equity partner Total confirmed an investment of $500mn, and in September Indian importer Petronet signed a memorandum of understanding for up to 5mn t/yr. Momentum was starting to build. But progress now looks less certain, ratcheting up investor nerves. During US President Donald Trump’s visit to India in February, Petronet announced it would delay its final decision by a further two months; the new deadline is 31 May. This uncertainty has combined with plummeting spot and oil-linked LNG prices—on the back of the Opec+ failure and Covid-19 impacts on deman
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
