HOUSTON, TX --(Marketwired - April 03, 2017) - Tellurian Inc. (NASDAQ: TELL) (Tellurian) announced today that its wholly owned subsidiaries, Driftwood LNG LLC and Driftwood
Pipeline LLC have completed the pre-filing phase and collectively submitted a formal application with the Federal Energy
Regulatory Commission (FERC) to construct and operate an approximately 26 million tonnes per annum (mtpa) liquefied natural gas
(LNG) export facility near Lake Charles, Louisiana and a 96-mile pipeline connecting the facility to interstate pipelines (the
Driftwood LNG project). Tellurian expects to begin construction of the Driftwood LNG project in 2018 and produce first LNG in
2022, with full operations beginning in 2025.
Tellurian President and CEO Meg Gentle said, "Throughout the pre-filing phase, the representatives at FERC, the Department of
Energy and the US Coast Guard have been well-organized, thorough, and proficient in ensuring that Driftwood LNG is designed and
permitted with a priority on safety, reliability, and efficiency. We look forward to continuing to work with FERC and other
agencies on a timely approval process and beginning construction in 2018."
The Driftwood LNG project will require approximately 6,400 workers during the construction phase, and will create nearly 400
new permanent jobs when fully operational. Tellurian expects that engineering, procurement, and construction costs will be
approximately $13 - $16 billion for the Driftwood LNG export facility and expects to make a final investment decision to begin
construction following regulatory approval in mid-2018.
About Tellurian Inc.
Tellurian was founded by Charif Souki and Martin Houston and is led by President and CEO Meg Gentle. The employees and
contractors of Tellurian are experienced industry experts developing low-cost liquefied natural gas (LNG) projects along the
United States Gulf Coast. The team intends to deliver results using a repeatable and simple design, off-the-shelf equipment and
multiple production units to enhance reliability. The team has been delivering cost-leading LNG projects for more than 50 years.
They are focusing their collective knowledge and expertise to establish a new global standard and intend to deliver low cost LNG
to customers from the proposed Driftwood LNG project, which includes an approximately 26 million tonnes per annum LNG export
facility expected to begin operations in 2022.
For more information, please visit www.tellurianinc.com.
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," and similar expressions are intended to identify forward-looking statements.
Forward-looking statements herein relate to, among other things, the performance, timing and permitting of Tellurian's Driftwood
LNG project. 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 uncertainties about the development
and performance of the Driftwood LNG project, other matters discussed in the "Risk Factors" section of Exhibit 99.1 to the
Current Report on Form 8-K/A filed by Tellurian with the Securities and Exchange Commission (the "SEC") on March 15, 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.