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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tellurian Inc    TELL

TELLURIAN INC

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Tellurian : and Vitol Sign MOU for 15-year LNG sale on JKM

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12/07/2018 | 06:10am EST

Tellurian Inc. announced today that its subsidiary, Tellurian Trading UK Ltd. (Tellurian Trading), has entered into a Memorandum of Understanding (MOU) with Vitol Inc. (Vitol) to supply 1.5 million tonnes per annum of liquefied natural gas (LNG) from Tellurian Tradings LNG offtake capacity at the proposed Driftwood LNG export terminal. The transaction price is based on the Platts Japan Korea Marker (JKM) and is for a minimum term of 15 years.

Under the MOU, Tellurian and Vitol have agreed to negotiate a LNG Sale and Purchase Agreement (SPA) under which Vitol will purchase LNG free on board (FOB). The SPA will contain certain conditions precedent, including Tellurians receipt of regulatory approvals and a final investment decision to construct the Driftwood LNG export terminal.

In addition, Vitol is evaluating a potential equity investment in the Driftwood Holdings partnership.

President and CEO Meg Gentle said, The LNG business is evolving into a true commodity market, which includes LNG purchases and sales based on actual LNG prices rather than indexing to other energy products. JKM has emerged as the most liquid and transparent pricing mechanism for LNG. Tellurian is proud to work with Vitol, who has long been known for its innovation and creativity in the energy commodity markets, to lead LNG market transformation with a long-term LNG sale at the market index.

Pablo Galante Escobar, Head of LNG, Vitol added, We are very pleased to have concluded this agreement with Tellurian, which is at the forefront of LNG in the U.S. Tellurians integrated Driftwood project offers a unique value proposition, which we are pleased to participate in as off takers and potential equity investors.

(c) 2018 ITP Media Group. All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 10,7 M
EBIT 2018 -128 M
Net income 2018 -128 M
Finance 2018 132 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 212x
EV / Sales 2019 57,8x
Capitalization 2 400 M
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Number of Analysts 11
Average target price 11,7 $
Spread / Average Target 17%
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Managers
NameTitle
Meg A. Gentle President, Chief Executive Officer & Director
Charif Souki Chairman
R. Keith Teague Chief Operating Officer & Executive Vice President
Antoine J. Lafargue Chief Financial Officer & Senior Vice President
Martin Joseph Houston Vice Chairman
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