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Delfin signs 15-year LNG supply agreement with Gunvor
  + stars: | 2023-11-27 | by ( ) www.reuters.com   time to read: +1 min
Nov 27 (Reuters) - Delfin Midstream Inc said on Monday it had entered into a long-term liquefied natural gas (LNG) supply agreement with global commodity trader Gunvor. Delfin said in a news release its LNG plant in Louisiana will supply between 500,000 to 1 million tonnes of LNG per annum to Gunvor on a free-on-board basis at Delfin Deepwater Port for at least 15 years. Delfin has been developing the Delfin LNG Deepwater Port project supporting up to four floating LNG vessels with a combined export capacity of about 13.3 million tons per annum (MTPA), the release said. The company secured commercial agreements for LNG sales, liquefaction services and is in the final phase towards final investment decisions (FID) on its first three floating LNG vessels, the release added. Reporting by Deep Vakil and Rahul Paswan in Bengaluru; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.
Persons: Delfin Midstream, Delfin, Vakil, Rahul Paswan, David Gregorio Our Organizations: Delfin Midstream Inc, Delfin Deepwater Port, Delfin, Tellurian Inc, Singapore, Ltd, Thomson Locations: Louisiana, Mexico, Bengaluru
Tellurian appoints Barclays' Simon Oxley as CFO
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: 1 min
Companies Tellurian Inc FollowMay 10 (Reuters) - U.S. liquefied natural gas (LNG) developer Tellurian Inc <TELL.A> said on Wednesday it has appointed Simon Oxley as chief financial officer, effective June 1. Oxley, who worked at Barclays Investment Bank as co-head of Oil & Gas Investment Banking for Europe, the Middle East, and Africa, will take over from Khaled Sharafeldin, who had been serving as the interim finance chief after Kian Granmayeh resigned from the CFO position in March. Oxley joins Tellurian after its Driftwood project has seen many setbacks including the cancellation of some LNG supply deals after two major potential customers last year raised concerns around the company's ability to finish the project. Reporting by Arshreet Singh; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Companies Tellurian Inc FollowHOUSTON, April 13 (Reuters) - Tellurian (TELL.A) on Thursday asked its shareholders to vote on a proposal to double its share count as the liquefied natural gas (LNG) developer seeks to finance its multi-billion-dollar export terminal. The proposal - to increase authorized shares to 1.6 billion - if approved would provide additional financial flexibility while diluting the stakes of existing shareholders, the filing said. Shareholders will vote on the proposal on June 7, the company said in a proxy filing. Its Driftwood LNG export project received a U.S. export permit in March 2017, but has not achieved a financial go-ahead. The company's proxy filing shows executive pay fell last year as contracts with potential customers fell through and Tellurian began initial construction using its own cash.
April 6 (Reuters) - U.S. liquefied natural gas (LNG) developer Tellurian Inc (TELL.A) will sell 800 acres of land in Louisiana for $1 billion to an undisclosed institutional investor, the company said on Thursday. He added that the lease would create a 40-year liability of $87.5 million annually that would escalate by 3% yearly. The Driftwood project has seen many setbacks including the cancellation of some LNG supply deals after two major potential customers last year raised concerns around the company's ability to finish the project. The project, which received regulatory approvals in January to begin construction, is expected to produce 27.6 million tonnes per annum of LNG when ready. The deal disclosed on Thursday is contingent on several factors including Driftwood LNG LLC, Tellurian's subsidiary, securing financing commitments for Phase 1 of the project on terms satisfactory to the buyer.
Feb 22 (Reuters) - Tellurian Inc (TELL.A) on Wednesday reported a fourfold increase in quarterly natural gas production to meet a surge in demand triggered by Western sanctions against Russia over the Ukraine invasion. Shares of the U.S. liquefied natural gas (LNG) developer rose nearly 6% to $1.46 in premarket trade. U.S. natgas prices rose 18% year-over-year on average in the fourth quarter. Houston, Texas-based Tellurian said its natural gas production increased to about 225 million cubic feet per day (MMcfd) in the fourth quarter ended Dec. 31, compared with the previous year's 55 MMcfd. The company's adjusted core earnings also jumped to $80 million from $13.3 million a year ago.
Feb 7 (Reuters) - Tellurian Inc is continuing discussions with the Indian government and oil companies for investments in its Driftwood liquefied natural gas project in Louisiana, its chief executive told Reuters on Tuesday. "The only way India and Indian companies can supply LNG at the lowest possible cost is if they invest equity in a project that allows them to lift the LNG at cost. We offer that, so obviously, it is very, very attractive to the Indian companies and the Indian government," Simoes said. Houston, Texas-based Tellurian resumed talks with Indian oil and gas companies for investments in Driftwood LNG late last year. No other competing project is under construction," Simoes said.
Charif Souki has played a starring role in transforming America into an energy powerhouse, but his second attempt at exporting natural gas is foundering. Mr. Souki’s new firm, Tellurian Inc., is struggling to line up financing to build a large export plant for liquefied natural gas on the Gulf of Mexico despite soaring demand for cargoes of the fuel this year.
Loading chart...Northern Oil & Gas Inc : "I'd rather see you in something that right now, works." That's way too high." Loading chart...Energy Transfer LP : "It's got a nice yield. I do like the pipeline companies very much. Loading chart...Tellurian Inc : "I believe that it is a call option on natural gas."
Cramer's lightning round: Manulife is not a buy
  + stars: | 2022-11-01 | by ( Krystal Hur | ) www.cnbc.com   time to read: 1 min
Loading chart...Tellurian Inc : "I am still in the buy, buy, buy. Planet Labs PBC : "It's a really interesting concept. That's a concept." Loading chart...Manulife Financial Corp : "I don't like to recommend stocks where there's nothing special." Loading chart...Perion Network Ltd : "I'm going to give it my blessing."
Discover Financial Services : "You are fighting the Fed with DFS. I think the ag group is ready to roll again, as in bull market mode." Loading chart...Royalty Pharma PLC : "I like it, and I'm going to stick with it. Loading chart...Tellurian Inc : "It's at $2, and stocks stop at $0. Loading chart...Zoetis Inc : "I think the stock is now undervalued.
Cramer's lightning round: Harmonic is not a buy
  + stars: | 2022-09-27 | by ( Krystal Hur | ) www.cnbc.com   time to read: +1 min
Loading chart...Everbridge Inc: "This one does not make money, so I say [sell]." Loading chart...Loading chart...Harmonic Inc: "Sells way too high on a price-to-earnings multiple for me to recommend when there's so many cheaper stocks out there." Loading chart...Monolithic Power Systems Inc: "I'm going to have to say that I do not like this stock." I'm not going against [Cathie Wood] at these prices. Loading chart...ZIM Integrated Shipping Services Ltd: "I think the shipping business is a terrible business.
Tellurian says Driftwood LNG deals with Shell, Vitol scrapped
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Toru HanaiSept 23 (Reuters) - Tellurian Inc (TELL.A) lost two of its biggest potential customers after the U.S. liquefied natural gas developer disclosed scrapped LNG supply deals with Shell Plc (SHEL.L) and Vitol SA on Friday. Register now for FREE unlimited access to Reuters.com RegisterHouston-based Tellurian said Shell had delivered it a notice to cancel its agreement to purchase LNG from Tellurian's two Driftwood LNG export plants. Tellurian also said it sent a termination notice to global energy trader Vitol related to their separate Driftwood LNG agreement. Tellurian would have sold 3 million tonnes per annum (mtpa) of LNG each to Shell and Vitol for 10 years from its 27.6-mtpa Driftwood plants as part of the separate deals signed in 2021. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ruhi Soni in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
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