LNG NEWS WEEKLY DATE 06th AUGUST 2021

MARAN GAS ADDS FIRST X-DF PROPULSION LNG CARRIER

Greek shipowner Maran Gas has taken delivery of 174,000-m3 Isabella – its first X-DF-propelled LNG carrier – from South
Korea’s Daewoo Shipbuilding & Marine Engineering (DSME). Built to ABS class and flying the Greek flag, Isabella has an
overall length of 294.9 m, beam of 46.4 m, a depth of 26.5 m, a design draught of 11.5 m and service speed of 19.5 knots.
“Our first vessel with X-DF propulsion also incorporates the latest technological developments in cargo containment, boil-off
gas, and reliquefaction system,” wrote parent company Angelicoussis Group. “We would like to thank the master, officers and
crew on board as well as the team ashore and the attending superintendents for the successful delivery. Isabella sailed from
DSME shipyard for its maiden voyage.” Maran Gas has eight additional 174,000-m3 LNG carriers on order, six under the
Greek flag and two flying the Marshall Islands flag, with deliveries stretching into 2023. Meanwhile, DSME has had a strong
order intake for 2021, with contracts awarded to build nine LNG carriers, one LPG carrier, 12 container ships, nine tankers
and four other types of vessels. As of July, the South Korean shipbuilder had won contracts worth US$5.5Bn – 71.4% of its
US$7.7Bn sales target for the year. source : www.rivieramm.com

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ACTEON TO DEVELOP PHILIPPINES’ FIRST LNG IMPORT AND
REGASIFICATION TERMINAL
Acteon, a marine energy and infrastructure services company, has secured an integrated project with Atlantic, Gulf & Pacific
Company (AG&P) for the development of an LNG import and regasification terminal in Batangas Bay, Philippines Development
of the terminal named Philippines LNG (PLNG) will be managed by a team from Acteon Integrated Solutions (AIS). The project
scope for AIS includes the local transportation and installation of jacket structures to form the LNG berth. These structures will
vary across the construction site and will include approach trestles, mooring and berthing dolphins and associated furniture
such as walkways, fenders and mooring hooks. The AIS team will be responsible for the full construction of the jetty and all
the marine works. The team will be supported by Acteon strategic business segments and product and service line brands 2H
Offshore, Core, Claxton, InterMoor, LDD, TEAM and UTEC. AIS aims to boost efficiency and reduce its carbon footprint,
minimising the number of interfaces for the client and enabling AIS to source local personnel and materials. AIS executive vice
president Mathias Bruneau said, “We are delighted to have secured this major win for the AIS team to support AG&P on this
exciting and important project.” “The team has worked hard to build a strong collaboration with AG&P, so we are looking
forward to working with them and developing this relationship throughout the development work.” When complete, PLNG will
be the first LNG import and regasification terminal in the Philippines. source : www.rivieramm.com

SHELL LONG-TERM SPAS BOOST DRIFTWOOD LNG

Tellurian’s Driftwood LNG project received a major boost after the US LNG developer reported signing a sales and purchase
agreement (SPAs) with Shell NA LNG to supply 3M tonnes per annum (mta) of LNG over a 10-year period. With the SPAs
from Shell in hand, Tellurian has now secured three commercial deals for the initial first two plants at Driftwood LNG – about
9 mta of LNG. Each plant would have four liquefaction trains. “With these SPAs, we have now completed the sales to support
the launching of the first two plants,” said Tellurian president and chief executive Octávio Simões. “Tellurian will now focus on
financing Driftwood, to give Bechtel notice to proceed with construction in early 2022.” Sited on the Calcasieu River near Lake
Charles, Louisiana, Driftwood LNG as proposed would be developed in multi-phases with a total capacity of 27.6 mta, making
it one of the world’s largest LNG export facilities. The Shell SPAs follow on the heels of similar agreements with Gunvor
Singapore and Vitol in May and June. Sold on a free on board basis at Driftwood LNG, the Shell SPAs are indexed to a
combination of two indices: the Japan Korea Marker and the Dutch Title Transfer Facility, each netted back for transportation
charges, said Tellurian. “Shell manages one of the largest and most diverse portfolios of LNG in the world and is leading the
industry in delivering CO2e-neutral LNG cargoes,” said Mr Simões. “Owing to Driftwood’s integrated project, our ability to
accurately measure well-to-loading-arm emissions and reduce emissions where operationally possible, further enables Shell’s
CO2e-neutral LNG offering.” Added Shell Energy executive vice president Steve Hill, “LNG demand is expected to nearly
double by 2040. This deal secures additional competitive volumes for our portfolio by the mid-2020s, enabling us to continue
providing diverse and flexible LNG supply to our customers. We look forward to working with Tellurian.” source : www.rivieramm.com

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1
CELSIUS LINKED TO ORDER FOR LNG CARRIER AT SAMSUNG
Company said to have declared optional newbuilding as shipyard slims down losses. Celsius Shipping has been named as the
company behind an LNG carrier order netted by Samsung Heavy Industries at the end of July. The single newbuilding will
boost Celsius’ fleet in this sector to eight ships. Brokers said Celsius exercised an option for a vessel following the three LNG
carriers it recently confirmed at the yard. On 27 July, SHI said it had won an order for one LNG carrier priced at KRW 223.6bn
($195.1m) from an unnamed shipping outfit. The yard said the vessel will be delivered by April 2024. TradeWinds reported in
early July that Celsius had been linked to an order for three 180,000-cbm LNG carrier newbuildings priced at about $193m
each at SHI. The vessels are to be fitted with MAN Energy Solutions’ new low-pressure, two-stroke gas engine ME-GA
propulsion systems. At the time, newbuilding sources said the order details had been agreed in May. The price is well below
the $210m quoted for LNG carriers from South Korean yards today. The optional vessel appears to be marginally more
expensive. Brokers said the shipowner had managed to step into the berths vacated by Sinokor Merchant Marine on three
LNG carriers. If confirmed, these four newbuildings will double Celsius’ LNG fleet to eight ships. The Danish shipowner already
has three 180,000-cbm LNG vessels on the water, with the sistership newbuilding Celsius Carolina now scheduled for handover
in August. The first of these was fixed to Gunvor in August 2020 on period hire of 12 to 14 months at a rate of around
$60,000 per day. The remaining three have been chartered by US producer Cheniere Energy for what Celsius said are periods
of up to 13.5 years. This recent order at SHI brings the yard’s tally of LNG carrier orders for the year to seven. SHI has
already reached 74% of its $9.1bn order target for 2021 with contracts for 52 ships in total worth $6.7bn. Aside from LNG
carriers, the yard added 38 containerships and seven crude oil carriers. The orders have helped SHI slim its second-quarter
net loss to KRW 447.4bn from KRW 704.3bn in the same period a year earlier. Operating losses for the period were also
lower at KRW 437.9bn, from KRW 707.7bn in the second quarter of 2020. The yard said these losses were largely due to
allowance for an expected construction loss of KRW 372bn caused by anticipated steel plate price rises in the second half of
this year. source : www.tradewindsnews.com

HYUNDAI LNG INKS OPTIONAL DSME ORDER

South Korea’s Hyundai LNG Shipping has added another newbuilding to its growing fleet by inking a contract for an LNG
carrier at Daewoo Shipbuilding & Marine Engineering after securing a second long-term charter deal from Spain’s Repsol. This
week, DSME said it had won a KRW 227.8bn ($197.7mn) order for an LNG carrier from an Asia-based shipowner without
naming the contracting party. It said delivery is set for the end of May 2024. Those following the business said the 174,000-
cbm vessel is an option held by Hyundai LNG. The option was linked to a single LNG newbuilding order that the South Korean
shipowner placed in May after scooping charter business from Repsol in a battle with Norway’s Knutsen OAS Shipping. This
first newbuilding, which delivers in the fourth quarter of 2023, was priced at KRW 216.9bn ($195.8m). The more expensive
option indicates the pressure yards have been under to hike prices in response to steel plate price rises.

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2
The ships will be fitted with ME-GI propulsion and reliquefaction systems. Repsol said this week it has fixed two LNG carriers
from Hyundai LNG for 10-year charters with options to extend the hire. The ships will primarily be used to lift the company’s
US LNG volumes. Repsol is buying one million tonnes per annum of product over a 20-year period from Venture Global LNG’s
Calcasieu Pass project, with shipments due to start in 2022. The Spanish utility is also taking on LNG from compatriot Naturgy,
which is buying LNG from US producer Cheniere Energy. Repsol is also planning to extend its trading activities on LNG. This
latest order from IMM Private Equity-controlled Hyundai LNG comes after the owner doubled the number of LNG newbuildings
it is constructing for Petronas against its LNG Canada requirement to six vessels. The shipowner, which was formed seven
years ago when Hyundai Merchant Marine sold its LNG business to IMM Private Equity and IMM Investment, now has eight
LNG carriers on order, comprising the two vessels fixed to Repsol and six for Petronas. The latest additions come amid talk
that the company is being fattened up for sale by its lead shareholder. source : www.tradewindsnews.com

KNUTSEN DOUBLES LNG UNIT TALLY FOR POLAND’S PGNIG

Norway’s Knutsen OAS Shipping has exercised options for two LNG carrier newbuildings at Hyundai Heavy Industries after
netting additional charter deals from Poland’s Polskie Gornictwo Naftowe i Gazownictwo (PGNiG). An arm of the Polish LNG
importer, PGNiG Supply & Trading, said it signed a contract with Knutsen for the two 174,000-cbm vessels, which will be
delivered in the first half of 2024. PGNiG’s trading business said it will be the “sole user” of the vessels for 10 years, with an
option to extend the hire on the ships. Knutsen will be responsible for manning and maintaining the vessels. The pair doubles
up PGNiG’s long-term chartered LNG newbuildings to four vessels. The Polish company signed up to two 2023-delivering
LNG carriers priced at $187.5m each with Knutsen at the end of October 2020. The four ships for Knutsen come in addition
to nine LNG newbuildings and one LNG bunker vessel the shipowner has contracted against Shell charters and one vessel for
Engie. Pawel Majewski, who is president of the management board of PGNiG, said the company is “consistently developing”
its position on the international LNG market. “Chartering of the tankers is an important step to implement our plans in this
area,” he said. “It is an optimal solution, ensuring certainty and at the same time flexibility of logistic operations, which are an
important element of building competitive advantage.” PGNiG said it will primarily use the vessels to ship the LNG volumes it
has contracted in the US under free-on-board (FOB) deals. The doubling up of its newbuildings comes as the Polish trader
announced it has increased the amount of LNG it is buying from the US. PGNiG said it was amending existing FOB sales and
purchase agreements — SPAs — to buy a further two million tonnes per annum of LNG from Venture Global LNG over 20
years. This entails upping its account at the producer’s Calcasieu Pass project from one mtpa to 1.5 mtpa and growing those
from its Plaquemines development from 2.5 mtpa to four mtpa. This bumps up the trader’s LNG purchases from Venture Global
to 5.5 mtpa, with the first deliveries to PGNiG slated for 2023. “LNG plays a vital role in PGNiG’s strategy,” Majewski said.
“We plan to develop our commercial activity in the global trading market.” He said expanding the cooperation with Venture
Global LNG fits both of these goals. source : www.tradewindsnews.com

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3
DNG ENERGY NETS LNG CARRIER AS FSU FOR SOUTH AFRICA
BUNKERING PROJECT
Founder and chief executive Aldworth Mbalati expects first operations to kick off late this year. Infrastructure company DNG
Energy has secured an LNG carrier that will serve as the floating storage unit (FSU) for its upcoming bunkering project in
Algoa Bay, South Africa. Sources with knowledge of the project said the vessel is the NYK Line-controlled, 127,705--cbm LNG
Flora (built 1993), in which Mitsui OSK Lines and Japanese utilities -Osaka Gas and Toho Gas also have stakes. DNG founder
and chief executive Aldworth Mbalati told TradeWinds that his company will charter in the FSU for its upcoming project for a
period of at least five years. Mbalati said DNG is in the process of finalising terms and expects the vessel to arrive in the
fourth quarter of 2021. He said with this schedule and work with local authorities, he is “quite confident” that the project will
be operational in the fourth quarter of this year.DNG looks set to claim South Africa’s first LNG import project. The country
has a record of several previous efforts stretching back more than 15 years. But Mbalati said DNG was officially registered as
the country’s first importer of LNG on 8 July. The project was originally planned to launch in mid-2020 but was set back by
the global Covid-19 pandemic. However, in the interim, it has extended its supply options, reduced costs and added baseload
customers. DNG plans to deliver LNG cargoes to its FSU. Mbalati said the company has secured supply from a US producer,
Nigeria LNG and one of the top three LNG traders amounting to around one million tonnes per annum, which is sufficient for
the project’s start-up needs. The outfit will use two 10,000-cbm LNG carriers as bunker vessels to shuttle shipments from the
FSU either into port so volumes can be transferred into ISO containers for inland delivery or out to vessels for bunkering. DNG
plans to buy these Anthony Veder-managed LNG bunker vessels from GATX Corp. But Mbalati was not yet ready to name
the ships. Mbalati said DNG has four baseload customers involved in mining, pharmaceuticals and industry and transport
sectors. On the marine side, he indicated that DNG would supply a large mover of iron ore — thought to be Vale — and a
car carrier operator. The company has also appointed a broker to market its LNG bunkering volumes and the boss said it is
seeing increasing interest in supply. When Mbalati last spoke to Trade Winds in November 2019, he priced the project at
around $300m but said the costs have now reduced to nearer $280m as the company had been able to negotiate better deals
on several aspects of the development, including its shipping elements. Separately, DNG also ordered an LNG barge from
Southern African Shipyards. The vessel has been designed to load directly from the FSU and fits in with the company’s plan
to supply LNG into Maputo in Mozambique. But Mbalati said the barge is a “Covid casualty” and it will not now be delivered
until next year. source : www.tradewindsnews.com

JAPAN'S MOL ORDERS FOUR LNG-FUELLED CAR CARRIERS

Japanese shipping company Mitsui OSK Lines (MOL) has inked an agreement with Shin Kurushima Dockyard and Nihon
Shipyard to build four 7,000-unit capacity LNG-fuelled car carriers, it said on August 3.MOL said it plans to launch 90 LNG-
fuelled vessels by 2030 as part of its plan to be net-zero GHG emissions by 2050.“In addition to the LNG-fuelled vessel
projects that the MOL Group has been working on, we will promote the use of LNG-fuel for car carriers, starting with this
decision,” the company said. MOL is also planning to develop vessels fuelled by biofuels. Source : www.naturalgasworld.com

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4
INDIAN GAILS PROFIT JUMPS 500% IN APR-JUN
India's biggest gas transportation and marketing company Gail on August 5 reported a 497% year/year increase in standalone
net profit in the three months to June 30 (Q1FY2021-22) owing to improved gas marketing margins. It also realised higher
prices in petrochemicals and liquid hydrocarbons segments. The profit in Q1 came in at 15.3bn ($210mn) rupees as against
2.56bn rupees in the same period of last year. During the quarter, natural gas transmission and natural gas marketing volume
increased by 19% yr/yr and 18% yr/yr respectively as compared with corresponding quarter in the previous year. The profit
was, however, lower than the 19bn rupees reported in the preceding January-March quarter.Manoj Jain, managing director,
Gail stated that the company is executing pipeline projects of around 8,000 km with investment of around 380bn rupees. Source
: www.naturalgasworld.com

AUSSIE EAST COAST LNG EXPORTS UP 6% IN JULY

LNG exports from the three projects on the Australian east coast came in at 1.77mn metric tons (mt) in July, up 6% year/year,
according to the published by Gladstone Ports Corp on August 6. China was the biggest buyer and imported 1.16mn mt of
LNG, up from 1.11mn mt in the same month of the previous year. South Korea imported 347,413 mt of LNG, up from 226,354
mt in the year-ago period while Malaysia imported 124,042 mt, as against 124,880 mt in July 2020. Japan imported 135,708
mt of LNG last month, up from 65,762 mt in the same month last year. The three east coast projects are APLNG; Gladstone
LNG and Queensland Curtis LNG. In the 12 months to June 30, these projects exported a record 23mn mt of LNG. Source :
www.naturalgasworld.com

INDIA'S ADANI TOTAL GAS REPORTS 200% JUMP IN QUARTERLY

PROFIT
Indian city gas company Adani Total Gas (ATGL), a joint venture between Adani Gas and France’s TotalEnergies, on August
4 reported a 199% year/year increase in net profit during the three months to June 30 (Q1) owing to a sharp jump in gas
sales volumes. The company realised a profit of 1.38bn ($19mn) rupees compared with 460mn rupees in the same period last
year. Gas sales volume was up 118% yr/yr. CNG sales volume jumped 180% yr/yr while piped natural gas volume increased
by 80% yr/yr, ATGL said. “The intent of both the Adani Group and TotalEnergies is to rapidly establish an energy portfolio
that continues to get greener - and gas is a critical component of this mix,” Gautam Adani, chairman, Adani Group said.
“ATGL's strong performance is yet again a manifestation of this intent and we are strongly positioned to continue to significantly
expand our CGD [city gas development] networks across all geographical areas.” Suresh Manglani, CEO of ATGL said that
despite the severe onslaught of the COVID-19 pandemic across India, ATGL has delivered an excellent performance for Q1
on all fronts – by its volume growth, infrastructure growth, financial results and by safely running operations.“This testifies to
our strong foundations and continued growth, which are helping us to provide PNG to every home and to commercial and
industrial consumers, and CNG to large masses of transport consumers,” Manglani said. Source : www.naturalgasworld.com

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PIVOTAL LNG EXPANDS WITH GREAT LAKES BUNKERING
Support for LNG bunkering operations in the US Great Lakes region marked a first for regional shippers, Pivotal LNG said
August 2. Pivotal lauded the operations at its Towanda LNG facility in northern Pennsylvania as a well-positioned asset
supporting bunkering operations in the Great Lakes region of North America. In December, a month before its official in-service
date, the facility supplied LNG to support bunkering operations at the Port of Hamilton, off the coast of Canada. The company
said that was a first for the Great Lakes region, marking a regional milestone. “With a production capacity of 50,000 gallons
per day and approximately 180,000 gallons of on-site storage, Towanda LNG provides affordable and reliable LNG supplies
to customers ranging from commercial and industrial users to local gas utilities and power generation facilities,” the company
said. Pivotal is involved in two other LNG facilities, in Alabama and Florida. Combined with Towanda, the company has
approximately 230,000 gallons/d of liquefaction capacity and 7mn gallons of storage. Source : www.naturalgasworld.com

PAKISTAN HIKES PRICE OF REGASIFIED LNG

Pakistan’s Oil and Gas Regulatory Authority (OGRA) has increased the price of regasified LNG for customers of gas
companies Sui Northern Gas Pipelines and Sui Southern Gas Company for August, according to local media reports published
on August 3.OGRA has increase the price for gas from Sui Northern by 5.36% versus the rate in July, while the price for
supplies from Sui Southern has gone up by 5.59%, The Express Tribune reported. Customers of Sui Northern will pay $13.6/mn
Btu in August while Sui Southern customers will have to shell out $13.34/mn Btu. According to the newspaper, the government
plans to import 12 cargos of LNG in August, including six via Pakistan State Oil and six through spot purchases by Pakistan
LNG. Recent LNG procurements by the government have sparked controversy. Pakistan Muslim League-Nawaz (PML-N), the
country’s main opposition party, has demanded a probe into these purchases. Source : www.naturalgasworld.com

ITALIAN ENERGY GIANT ENI, OPERATOR OF THE DAMIETTA

LIQUEFACTION PLANT IN EGYPT, SHIPPED 17 LNG CARGOES IN THE
FIRST HALF OF THIS YEAR
Eni’s 5 mill ton es per annum Damietta liquefaction facility, located about 60 km northwest of Port Said, has exported 17 LNG
cargoes in the first half of this year. Damietta re started exporting LNG in February 2021, following an agreement between
Egypt’s EGPC and EGAS, Eni, and Naturgy. It ceased operations in 2012, due to declining domestic production, but new
finds, such as Eni’s giant Zohr field in the Eastern Mediterranean, allowed the partners to restart the plant and ship the first
cargo last February. Claudio Descalzi, Eni’s CEO confrimed the number of cargoes to analysts during the firm’s second-quarter
recent conference call.He said this contributed to Eni’s asset gas production in Egypt reaching a record level of nearly 4 bill
cubic feet. Descalzi added that Eni expected “nearly 30 additional cargoes” in the second half of this year. Eni’s second-
quarter LNG sales rose to 2.2 mill tonnes, up 50%, compared to last year due to the rising volumes from the Egyptian plant.
The Damietta plant consists of a single train, jetty, and two LNG storage tanks with a capacity of 300,000 cubic metres.
Following Naturgy’s departure, Eni owns 50% of SEGAS, the owner of the liquefaction plant, while EGAS owns 40%, and
EGPC holds the remaining 10%. SOURCE : WWW.LNGJOURNAL.COM

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6
BANGLADESHI FIRM PENS MOU FOR US LNG
Bangladeshi private firm Summit Oil & Shipping has signed a memorandum of understanding (MoU) with US LNG exporter
Commonwealth LNG for the supply of LNG to Asia, including Bangladesh. The MoU covers 1mn metric tons/year of LNG
supply over 20 years from the 8.4mn mt/yr liquefaction project that Commonwealth is currently developing in Cameron,
Louisiana, Summit Oil reported on August 2. Commonwealth partnered with commodities trader Gunvor to invite bids for offtake
from the plant in January, enabling customers to book future term supply at volumes, pricing and durations of their choosing.
Summit Oil is the largest private sector importer and supplier of fuel oil to Bangladesh. It is a subsidiary of Summit Group,
which has some 3 GW of gas-to-power electricity in operation or development within the Indian subcontinent. It also operates
a 500mn ft3 /day floating storage and regasification unit in Moheshkhali in Bangladesh. "We look forward to having
Commonwealth LNG as a partner that can deliver US-sourced LNG, providing diversification of supply for Bangladesh and the
pricing stability associated with Henry Hub," Farid Khan, vice chairman of Summit Group, commented. Commonwealth said
back in January that it would offer LNG from its planned Cameron facility under tolling, free on board, or delivered at place
(DAP) offtake contracts to meet customer preferences. The company is looking to take a final investment decision on the
project in the first quarter of 2022 and launch exports in the second quarter of 2025. Gunvor has committed to taking 3mn
mt/yr of supply from the facility. Source : www.naturalgasworld.com

EU BACKS GREEN PROJECTS WITH €118MN IN GRANTS

The European Commission (EC) has selected 32 green projects for €118mn ($140mn) in grants, including a bio-LNG scheme
in the Netherlands, a carbon capture and storage (CCS) initiative in Iceland and a number of small-scale green hydrogen
plans. In a list posted on July 27, the EC proposed support for FirstBio2Shipping, a joint project between companies Attero
and Bio-LNG Hub Wilp to build a plant to produce bio-LNG that can be used as a low-carbon shipping fuel. The plant will
comprise a gas treatment unit, a bio-LNG polishing and storage unit and a carbon capture unit. It will produce 6mn m 3 /year
of biogas, 2,400 metric tons/year of bio-methane and 5,000 mt of bio-CO2 . The facility relies on a technology patented by
Nordsol called iLNG, the EC said, and would reduce greenhouse gas emissions by 92% versus the reference scenario. Another
project on the list is a full-scale CO2 capture and mineral storage facility at the Hellisheidi geothermal power plant in Iceland.
The facility dissolves CO2 in water as it flows into subsurface basalt rocks, where it is fixed into stable carbonates. It will have
a capacity of 34,000 mt of CO2 /yr. "With today's investment, the EU is giving concrete support to clean tech projects all over
Europe to scale up technological solutions that can help reach climate neutrality by 2050," the EC's executive vice president
Frans Timmermans said. "The increase of the innovation fund proposed in the Fit for 55 package will enable the EU to support
even more projects in the future, speed them up, and bring them to the market as quickly as possible." Individual grant
agreements are being prepared for the projects, which will have up to four years to reach financial closure. Source :
www.naturalgasworld.com

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7
TELLURIAN, US-BASED DEVELOPER OF DRIFTWOOD LNG, HAS
STRENGTHENED ITS BALANCE SHEET.
Tellurian has reported a net loss of around $30.6 mill, or $0.08 per share (basic and diluted), for the three months ended
30th June, 2021. The company said that it had around $111.9 mill of cash and cash equivalents and no borrowing obligations
at the end of the quarter. Furthermore, it generated about $5.6 mill in revenues during the period from natural gas sales.
Based on current production and anticipated results from new wells to be drilled, Tellurian estimated the 2021 year-end exit
rate for gross natural gas production to be about 95 million cubic feet per day (mmcf/d). Tellurian further claimed that it had
has a strong balance sheet consisting of around $328.2 mill in total assets. During the second quarter, the company signed
LNG sale and purchase agreements (SPAs) with Gunvor Singapore Pte Ltd and Vitol Inc for a total of six million tonnes per
annum (mtpa). Subsequently, Tellurian also entered into LNG SPAs with Shell NA LNG LLC for an additional three mtpa,
completing Driftwood LNG’s sales for plants one and two. President and CEO, Octávio Simões, said, "Tellurian’s strengthened
balance sheet and commercial success, combined with supportive market fundamentals, enable Driftwood’s continued
progression.“We exercised our long-term lease option with the Port of Lake Charles and have started on owner’s projects for
site preparation. Tellurian Production is also enhancing our natural gas drilling programme and this integrated approach will
create the physical hedge for Driftwood’s natural gas purchases for liquefaction and export," he said. SOURCE : WWW.LNGJOURNAL.COM

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