Item 1.01 Entry Into a Material Definitive Agreement.

On May 27, 2021, a wholly owned subsidiary of Tellurian Inc. (the "Company"), Driftwood LNG LLC ("Driftwood LNG"), entered into an LNG Sale and Purchase Agreement (the "LNG SPA") with Gunvor Singapore Pte Ltd, a company incorporated in Singapore ("Gunvor"). Subject to certain adjustments set forth in the LNG SPA, Gunvor's annual contract quantity of LNG ("ACQ") will be 156,510,000 million British thermal units (MMBtu). The price for LNG sold under the LNG SPA will be a blended average price based on the Platts Japan Korea Marker index price and the InterContinental Exchange Dutch Natural Gas Title Transfer Facility (TTF) futures contract price, in each case minus a transportation netback. The term of the LNG SPA is ten years from the date of first commercial delivery in respect of Plant 1 or Plant 2 of the Driftwood terminal.

Conditions to each party's obligation to consummate the transactions contemplated by the LNG SPA include (i) Driftwood LNG having issued to Bechtel Oil, Gas and Chemicals, Inc. an unconditional full notice to proceed for the construction of the first two plants of the Driftwood terminal and (ii) Driftwood LNG or an affiliate thereof having secured the necessary financing arrangements to construct such plants and having achieved financial close under such arrangements.

The LNG SPA contains customary representations, warranties and covenants of Driftwood LNG and Gunvor. Driftwood LNG, on the one hand, and Gunvor, on the other hand, have agreed to indemnify each other against certain losses resulting from breaches of their respective representations, warranties and covenants, subject to certain limits set forth in the LNG SPA. The LNG SPA also includes provisions regarding ACQ adjustments, suspension rights, failure to take LNG, failure to deliver LNG, inspection rights, force majeure, cool-downs, gas-ups, title and risk of loss transfers, invoicing and payment, berthing, loading and demurrage, testing and measurement standards, confidentiality, termination rights and other rights and requirements.

The foregoing description of the LNG SPA does not purport to be complete and is qualified in its entirety by reference to the full text of the LNG SPA, which is attached as Exhibit 10.1 to this report and incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

On May 27, 2021, the Company issued a press release regarding the LNG SPA. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

The information set forth in this Item 7.01, including the information set forth in Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.





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Item 9.01 Financial Statements and Exhibits.






 (d) Exhibits.




 Exhibit
   No.       Description

10.1†† LNG Sale and Purchase Agreement by and between Driftwood LNG LLC and

Gunvor Singapore Pte Ltd, dated as of May 27, 2021

   99.1        Press Release, dated as of May 27, 2021

   104       Cover Page Interactive Data File - the cover page XBRL tags are embedded
             within the Inline XBRL document (included as Exhibit 101)

†† Portions of this exhibit have been omitted in accordance with Item 601(b)(2)


    or 601(b)(10) of Regulation S-K. The omitted information is not material and
    would likely cause competitive harm to the registrant if publicly disclosed.
    The registrant hereby agrees to furnish supplementally an unredacted copy of
    this exhibit to the Securities and Exchange Commission upon request.




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