Tellurian and Its Driftwood LNG Project in Financial Trouble - Marcellus Drilling News
Tellurian and Its Driftwood LNG Project in Financial Trouble | Marcellus Drilling News
Tellurian stock price last 12 months (click for larger version)
Last week, Tellurian issued its third quarter update, and the news was not good. Tellurian’s primary focus is to build Driftwood LNG, a 27.6 million tonnes of LNG per year facility that will cost on the order of $14.5 billion to build. Thus far, Tellurian has not made an official final investment decision (FID) to proceed with the FERC-approved Driftwood project. Even so, construction began on the project in March 2022 (see Tellurian Begins Construction of Driftwood LNG with No FID). Last week, Tellurian warned investors that its financial situation raises “substantial doubt” that the company can continue as a going concern. In other words, Tellurian is signaling it may be heading for a bankruptcy filing.
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