Tellurian Announces an Open Season for the Haynesville Global Access Pipeline
February 21 2018 - 7:00AM
Business Wire
Tellurian (NASDAQ: TELL) announced today that its subsidiary
Haynesville Global Access Pipeline LLC (HGAP) is offering a
non-binding open season to secure prospective shippers for a
proposed 42-inch natural gas pipeline connecting the Haynesville
and Bossier shale production region to growing natural gas demand
in Southwest Louisiana. HGAP is estimated to cost approximately
$1.4 billion to construct and will have the capacity to transport
up to two billion cubic feet of natural gas per day. Construction
is projected to begin in 2022, with an in-service date of
mid-2023.
HGAP is part of Tellurian’s previously announced proposed
Tellurian Pipeline Network, a project that represents a $7.0
billion investment in U.S. infrastructure and will create
approximately 15,000 jobs in Texas and Louisiana. The investment is
incremental to the $15.2 billion investment that Tellurian plans
for Driftwood LNG, a proposed liquefied natural gas (LNG) export
facility near Lake Charles, Louisiana.
President and CEO Meg Gentle said, “HGAP will connect the
Haynesville Shale with growing markets in Southwest Louisiana,
where natural gas demand is expected to triple, reaching
approximately 12 billion cubic feet per day by 2025. Louisiana
continues to serve as the U.S. natural gas market hub, requiring
additional infrastructure to efficiently deliver gas from fields in
the Northeast U.S., the Midwest, and Texas to local and global
markets. HGAP will improve the connection between North and
Southwest Louisiana, debottlenecking existing pipeline routes and
providing shippers access to expanding markets.”
The proposed pipeline will stretch approximately 200 miles and
interconnect with the Midcontinent Express and Gulf Crossing
pipelines in Claiborne Parish and to other pipelines located near
Gillis in Calcasieu Parish, Louisiana. The pipeline system is
anticipated to have multiple receipt and delivery locations,
connecting industrial facilities and other third-party
pipelines.
The open season will begin at noon central time on Wednesday,
February 21, 2018 and runs through Friday, April 6, 2018 at 4 p.m.
central time. Interested parties are encouraged to contact Joey
Mahmoud, President of HGAP at 832.320.9228 for more
information.
About Tellurian Inc.
Tellurian was founded by Charif Souki and Martin Houston and is
led by President and CEO Meg Gentle. Tellurian intends to create
value for shareholders by building a low-cost, global natural gas
business, profitably delivering natural gas to customers worldwide.
Tellurian is developing a portfolio of natural gas production, LNG
trading, and infrastructure that includes an ~ 27.6 mtpa LNG
export facility and an associated pipeline. Tellurian is based in
Houston, Texas, and its common stock is listed on the Nasdaq
Capital Market under the symbol “TELL”.
For more information, please visit www.tellurianinc.com.
Follow us on Twitter at twitter.com/TellurianLNG
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws. The words
“anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,”
“forecast,” “initial,” “intend,” “may,” “plan,” “potential,”
“project,” “should,” “will,” “would,” “proposed,” and similar
expressions are intended to identify forward-looking statements.
Forward-looking statements herein relate to, among other things,
the cost, capacity, timing, routing, impact and other aspects of
HGAP and other components of the Tellurian Pipeline Network and
Tellurian’s overall strategy and business. These statements involve
a number of known and unknown risks, which may cause actual results
to differ materially from expectations expressed or implied in the
forward-looking statements. These risks include the matters
discussed in Item 1A of Part II of the Quarterly Report on Form
10-Q for the quarter ended September 30, 2017 filed by Tellurian
with the Securities and Exchange Commission (the “SEC”) on November
9, 2017, and other filings with the SEC, all of which are
incorporated by reference herein. The forward-looking statements in
this press release speak as of the date of this release. Although
Tellurian may from time to time voluntarily update its prior
forward-looking statements, it disclaims any commitment to do so
except as required by securities laws.
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version on businesswire.com: http://www.businesswire.com/news/home/20180221005119/en/
TellurianMedia:Joi Lecznar, +1.832.962.4044SVP
Public Affairs and
Communicationjoi.lecznar@tellurianinc.comorInvestors:Amit
Marwaha, +1.832.485.2004Director, Investor
Relationsamit.marwaha@tellurianinc.com
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