Total signs 15-year LNG HoA with Tellurian

April 3, 2019

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Total and Tellurian signed an HoA upon which Total will invest in Driftwood Holdings and will offtake 2.5 MTPA of LNG. More precisely:

– Total will make a $500 million equity investment in the Driftwood LNG and purchase 1 MTPA of LNG from the proposed project;

– Tellurian and Total will also enter into an SPA for a further 1.5 MTPA of LNG from Tellurian Marketing’s LNG offtake volumes from the Driftwood LNG. The SPA will be for the purchase of LNG on a FOB basis for a minimum term of 15 years, at a price based on the Platts JKM.

Edited from Total press release.