June 28, 2018 / 10:06 PM / 3 months ago

INTERVIEW-Tellurian to make decision on Louisiana LNG facility in 1st qtr 2019

(Adds details on LNG project, quotes from the chairman)

June 28 (Reuters) - The co-founder and chairman of Tellurian Inc said on Thursday the U.S. natural gas company expects to make a final investment decision on its proposed Driftwood liquefied natural gas export facility in Louisiana in the first quarter of 2019.

Charif Souki, who spoke to Reuters at the World Gas Conference in Washington, D.C., said the company expects to start producing LNG at the $30 billion project in early 2023.

“We expect to receive our federal permits ... and make a final investment decision in the first quarter of next year,” Souki said, noting the company expects to start producing LNG in early 2023 and complete the entire project in 2026.

Unlike other proposed U.S. LNG export projects offering to liquefy gas for a fee, Tellurian is offering customers the opportunity to meet their gas needs by investing in a full range of services from production to pipelines and liquefaction.

Tellurian is offering equity interests in Driftwood Holdings at $1,500 per tonne of LNG delivered at cost, expected to be around $3 per million British thermal units (mmBtu), which the company said removes the commodity price risk from the customer’s list of concerns. (Reporting by Scott DiSavino Editing by Chris Reese and Lisa Shumaker)

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