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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tellurian Inc    TELL

TELLURIAN INC

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Tellurian : scores first LNG customer for $15B export terminal

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12/07/2018 | 05:33am EDT

Houston-based Tellurian Inc. has struck its first big deal to sell liquefied natural gas from a proposed $15.2 billion export terminal in Louisiana.

Tellurian said Thursday its subsidiary has entered a memorandum of understanding with Vitol Inc. to supply 1.5 million tons per year of liquefied gas from its proposed Driftwood LNG export terminal south of Lake Charles, Louisiana.

A spokeswoman said the two companies have agreed in principle on the 15-year contract in l but are still ironing out the details of the deal.

PREVIOUSLY Charif Souki takes Tellurian LNG company public - HoustonChronicle.com

"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," said Tellurian CEO Meg Gentle in a statement.

In addition to buying liquefied natural gas through a contract, Vitol also is considering becoming an equity partner in the Tellurian sister company, called Driftwood Holdings.

Under the umbrella of Driftwood Holdings, Tellurian and its equity partners are developing the 27.6-million ton terminal as part of an integrated network of upstream and pipeline operations.

MEGA PIPELINE NETWORK: LNG firm Tellurian proposes $7 billion in pipelines

A company spokesperson said Tellurian is an active talks with 35 other parties to become equity partners in the holding company.

If all goes according to plan, Tellurian would complete its permitting and begin construction of the export terminal in the first half of 2019. The terminal would begin operating by 2023. It`s one of several LNG export projects popping up along the Gulf Coast as companies look to take advantage of cheap supplies of natural gas.

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

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Financials ($)
Sales 2019 62,5 M
EBIT 2019 -103 M
Net income 2019 -114 M
Debt 2019 1 265 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
EV / Sales 2019 51,6x
EV / Sales 2020 29,9x
Capitalization 1 961 M
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Number of Analysts 13
Average target price 12,7 $
Spread / Average Target 57%
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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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