Tellurian Signs Long-Term Lease for Driftwood LNG, Louisiana
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Tellurian’s wholly owned subsidiary Driftwood LNG has exercised its long-term lease option with the Lake Charles Harbor and Terminal District on the 477 acre site in Sulphur, Louisiana. The ground lease agreement has an initial term of 20 years with extension options of up to 50 years.
“Tellurian is taking necessary steps to prepare for Driftwood LNG construction by entering into this long-term lease and executing certain projects such as road improvements and utility relocation. We have an active and productive relationship with Port of Lake Charles officials and they have been helpful partners from the early development and site selection of our liquefied natural gas export terminal,” said Executive Vice President and Chief Operating Officer Keith Teague.
“Tellurian appreciates and thanks the Lake Charles Harbor and Terminal District Board of Commissioners for their hard work and the ongoing role they will play in the success of Driftwood LNG,” added Teague.
“Driftwood LNG will bring over 6,500 construction jobs, about 400 operational jobs and millions of dollars in tax revenue and spending to Southwest Louisiana. As a board, we will continue to support key developments in our dynamic deepwater seaport that enhance our community and citizens,” said Carl Krielow, President of the Board of Commissioners of the Lake Charles Harbor and Terminal District.
About Tellurian
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas.
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