Total: strengthens partnership with Tellurian
(CercleFinance.com) - Total has announced signing a series of agreements with Tellurian which reinforce their partnership for the development of the Driftwood LNG project in Louisiana, a project that takes advantage of lower US production costs and gas prices.
A memorandum of understanding details that Total will invest 500 million dollars in the Driftwood LNG project and will buy 2.5 million tonnes per year (Mtpa) of LNG, including 1 Mtpa of this same project and 1.5 Mtpa of Driftwood LNG supplied by Tellurian Marketing.
In addition, Total will buy approximately 20 million Tellurian shares for 200 million dollars, given that it has already been a shareholder since 2017, following the purchase of approximately 46 million shares for 207 million dollars.
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A memorandum of understanding details that Total will invest 500 million dollars in the Driftwood LNG project and will buy 2.5 million tonnes per year (Mtpa) of LNG, including 1 Mtpa of this same project and 1.5 Mtpa of Driftwood LNG supplied by Tellurian Marketing.
In addition, Total will buy approximately 20 million Tellurian shares for 200 million dollars, given that it has already been a shareholder since 2017, following the purchase of approximately 46 million shares for 207 million dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.