Tellurian Inc. (TELL) shares are up 4.49% at $4.42 in premarket trading on Wednesday. TELL stock finished last trading session down -4.08% at $4.23. TELL recorded a trading volume of 7.24 million shares, which is below the average daily volume of 16.4 million shares recorded over the last 50 days.
Within the last five days, Tellurian shares gained 2.42%; however, over the last month, they lost -2.98%. Over the last three months, Tellurian stock price has increased 88.84%, and this year’s gain stands at 230.47 percent. After signing long-term leases with a port, Tellurian stock has gained.
With whom did Tellurian sign its lease?
Tellurian’s objective is to build a cost-competitive, global natural gas business and to deliver natural gas to customers around the world profitably. Tellurian is developing a pipeline and LNG export facility, as well as a natural gas production, trading, and marketing portfolio. Houston, Texas, is the home office of Tellurian.
It was announced today that Tellurian’s 100 percent owned subsidiary Driftwood LNG LLC had executed its long-term lease option.
- Tellurian subsidiary has exercised its option to lease the 477-acre site in Sulphur, Louisiana, from Lake Charles Harbor and Terminal District.
- TELL’s ground lease agreement will initially last 20 years, with the option to extend for an additional 30 years.
- Besides the long-term lease and several projects such as road improvement and utility relocation, Tellurian has begun taking necessary steps toward Driftwood LNG construction.
- The Port of Lake Charles has been a helpful partner to Tellurian since the early development of its liquefied natural gas export terminal and site selection.
- In appreciation for their hard work, the Lake Charles Harbor and Terminal District Board of Commissioners was thanked for their role in ensuring the success of Driftwood LNG.
- Tellurian will bring over 6,500 construction jobs, 400 operational jobs, and millions of dollars in tax revenue and spending to Southwest Louisiana through Driftwood LNG.
- Throughout its dynamic deepwater seaport, Tellurian will continue to support key developments that will benefit its citizens and community.
Tellurian’s other strategic moves:
Tellurian (TELL)’s other wholly owned subsidiary, Driftwood Pipeline LLC, submitted a formal application to the Federal Energy Regulatory Commission (FERC) last week. In the application, it was requested that Line 200 and 300, which is a dual 43-inch diameter interstate pipeline approximately 37 miles in length, be built.
That pipeline will start in Beauregard Parish, Louisiana near Ragley and conclude in Calcasieu Parish, Louisiana, near Carlyss. As part of Tellurian’s overall commitment to support and balance the world’s energy needs and environmental concerns, this new and complete pipeline design provides definitive and measurable emissions reduction results.
