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Tellurian strikes $1B deal on LNG project as Chairman Souki reduces holdings - Houston Chronicle

Houston Chronicle · last updated

Tellurian strikes $1B land deal as Chairman Souki reduces holdings
Charif Souki, Chairman of Tellurian LNG at the corporate offices Friday, Jun. 25, 2021 in Houston, TX.Michael Wyke/Contributor

Tellurian, the Houston-based liquefied natural gas company, reached a $1 billion deal this week that may offer it the opportunity to make good on its plan to build the massive Driftwood LNG project in Lake Charles, La.

The company said in a Thursday regulatory filing that an unnamed investor has agreed to buy around 800 acres of land that make up the Driftwood site for $1 billion. As part of the transaction, a Tellurian subsidiary entered into a 40-year lease for the property. The deal requires Tellurian to add equity investors to the project before July 14 or the agreement would be terminated, according to a filing with the Securities and Exchange Commission.

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