Tellurian Inc. (Tellurian) continued to progress development of the Driftwood LNG terminal and Driftwood pipeline (together, the Driftwood Project) during the second quarter of 2017. Notably:

- Bechtel completed the front-end engineering and design (FEED) study and submitted a lump sum turnkey (LSTK) engineering, procurement and construction (EPC) proposal for the Driftwood LNG terminal;
- Tellurian launched commercial and marketing efforts at the Gastech 2017 conference in Tokyo, Japan;
and
- TELL was added to the Russell 2000 index.
Tellurian reported a net loss of approximately $33 million, or ($0.17) per share (basic and diluted), for the three months ended June 30, 2017.

President and CEO Meg Gentle said, "Completion of the FEED study is an important accomplishment in the development of the Driftwood Project. The FEED study is the culmination of a year’s work and a testament to the strength of the Bechtel, GE, Chart, and Tellurian engineering teams. The EPC proposal differentiates the Driftwood Project from other projects by enhancing cost certainty, which will support commercial and financing discussions. We anticipate executing a binding EPC agreement with Bechtel this autumn, and we intend to begin producing LNG in 2022.”

Estimated Driftwood Project timeline

- LSTK EPC contract Mid-2017
- LNG sales and purchase agreements 1H 2018
- FERC construction authorization Mid-2018
- Liquefaction project financial close Mid-2018
- Begin construction Mid-2018
- Begin operations 2022

About Tellurian Inc.

Tellurian (NASDAQ: TELL) was founded by Charif Souki and Martin Houston and is led by President and CEO Meg Gentle.
Tellurian plans to build a natural gas business that includes development of the Driftwood LNG terminal, an ~ 26 mtpa LNG export facility, and an associated pipeline. Tellurian intends to create value for shareholders by developing low-cost natural gas-related infrastructure, profitably delivering natural gas to customers worldwide and pursuing value-enhancing, complementary business lines in the energy industry. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol "TELL".