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those loans to found
Tellurian, and also alleged that he stole the early plans for Driftwood. Tellurian argued that the loan was void, that Driftwood was a different, larger project despite sharing land with the early plans, and that Cheniere had since breached its contract with Parallax by abruptly pulling the funds. The lawsuit, which lasted for years driven by the ongoing feud, was dismissed in 2020, the year it was set to go to court.
38:
272:
Tellurian's animosity with Icahn and
Cheniere also resulted in a lawsuit. The suit, described by Bloomberg News as the "trial of the year," was prompted by $ 46 million in loans Souki made to Houston's Parallax Enterprises during his time as Cheniere CEO. Cheniere alleged in the suit that Souki used
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On August 2, 2016, Tellurian entered into a merger agreement with petroleum company
Magellan; other early investors included the French oil and gas company Total, which purchased a 23 percent stake in the company for $ 207 million in December 2016. After one year in operation, Tellurian went public
253:
production project, Driftwood LNG, on the west bank of the
Calcasieu River, south of Lake Charles, Louisiana. According to the company, Driftwood was projected to produce 27,600,000 tonnes of liquified natural gas per year for export. Total, in July 2019, agreed to buy 2.5m tonnes of liquefied
232:, he founded Tellurian in 2016 with Martin Houston, the former COO of BG Group. The board of Cheniere had expelled Souki over, in part, his plans to more ambitiously expand the company, plans that he brought to Tellurian, telling the
238:
upon launch that he aimed to undercut its rivals, including
Cheniere, by 15 to 20 percent. The company hired several former Cheniere executives, including Meg Gentle, Cheniere's former executive vice president of marketing.
466:
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However, Tellurian ran into trouble toward the end of the decade due to delays in
Driftwood's construction, dropping fuel prices, ongoing tensions between the United States and China, and the
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In 2017, Tellurian bought $ 85 million in shale assets in
Louisiana and, in doing so, became the first United States developer to produce its own fuel for its export terminal.
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467:"How Carl Icahn Got In A Legal Spat With This Natural Gas Tycoon Over A $ 30 Billion LNG Export Terminal"
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natural gas from
Driftwood. The plant, projected to cost $ 30 billion (on a FFP contract from
312:"As Cheniere Energy Announces First LNG Shipment, Its Fired Founder Launches A Rival Company"
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542:"Australia's Woodside Energy to buy US LNG developer Tellurian for $ 1.2 billion"
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In July 2024, Australian petroleum exploration and production company,
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336:"France's Total buys stake in U.S. gas projects group Tellurian"
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490:"Latest Gamble by Restaurateur Turned Gas Baron Hits the Skids"
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515:"Days Before 'Trial of the Year,' Gas-Exporters Settle Feud"
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224:, the founder and former CEO of large natural gas company
388:"Charif Souki plots to undercut Cheniere Energy on LNG"
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Buurma, Christine; Malik, Naureen S (2 March 2020).
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is an
American natural gas company headquartered in
540:Williams, Curtis; Ojha, Ayushman (July 22, 2024).
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438:"Trouble flares for US energy upstart Tellurian"
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362:"Magellan and Tellurian finalise merger"
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465:Helman, Christpher (22 January 2020).
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160:Daniel Belhumeur (president)
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171:$ 28.77 million (2019)
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267:liquefied natural gas
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212:and Martin Houston.
297:"Tellurian revenue"
177:Number of employees
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415:. driftwoodlng.com
342:. 20 December 2016
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521:. 31 January 2020
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91:Natural Gas
598:Categories
544:. Reuters.
419:2019-12-11
372:2018-01-22
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284:References
230:Carl Icahn
181:172 (2018)
150:Key people
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85:Industry
340:Reuters
256:Bechtel
216:History
186:Website
168:Revenue
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316:Forbes
220:After
89:Energy
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527:2021
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193:.com
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70:TELL
66:AMEX
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