Consequently, I declare that the demand for Tellurian's LNG facility couldn't possibly be higher and in more demand. 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. Saudi Arabia to Use $110 Billion Gas Field for Blue Hydrogen In August, TELL did a secondary share offering worth $35 million. Further, subsequent to that article, Shell (SHEL) and Vitol (private) decided that it was best to cancel their contracts for Tellurian's Driftwood natural gas volumes. $8 billion to come from debt. Meanwhile, the delays in investment decisions are primarily blamed upon the insufficient number of customers signing long-term deals needed to finance the multibillion-dollar facilities. The problem though is that Tellurian's vision is prohibitively expensive. Unlike other U.S. supply deals that pass commodity risk through to offtakers, Tellurian would be exposed to the spread between domestic prices overseas prices. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. High upside energy, commodity, tech, and dividend stocks. NGIs special report Reshuffling the Deck: High Stakes for Natural Gas & The World is All-In offers trusted insight and data-backed forecasts on U.S. natural gas and the global LNG markets. NGI All News Access. These symbols will be available throughout the site during your session. I am not receiving compensation for it (other than from Seeking Alpha). Experts agree were still in the early stages of this technology, and as it grows, it will create several investing opportunities. Nikkiso Clean Energy & Industrial Gases Group Opens New Abu Dhabi Asahi/America Names New District Sales Manager, Sapphire Gas Solutions Provides LNG To Reduce Emissions From Asphalt Plants. | All rights reserved. Another big fear for investors could be the dilution of their holdings. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. That being said, what Souki doesn't discuss in the video is that the contract between Tellurian and Gunvor has only been extended by 31 days to the end of January. Liquefied natural gas (LNG) developer Tellurian Inc. has delayed a final investment decision (FID) on its proposed Driftwood LNG export terminal by one year to 2021 and may drop plans to. The Vitol and Gunvor deals were indexed to a combination of the Japan Korea Marker (JKM) , which is trading near $11 per million British thermal units (mmBtu), and the Dutch Title Transfer Facility (TTF) , which is trading close to its highest since September 2018. info@naturalgasintel.com Copy and paste multiple symbols separated by spaces. Recall, this is Tellurian's vision. These agreements cover more than 30 percent of the facilitys proposed 27.6 mtpa capacity. Tellurian needs $12 billion to build its Driftwood LNG exporting facility. I wrote this article myself, and it expresses my own opinions. info@naturalgasintel.com Tellurian said it intends to market up to 10 million tpy of its 16.6-million tpy Phase 1 on a JKM . All quotes delayed a minimum of 15 minutes. Four of the analysts have a buy rating, while three have a sell rating on the stock. That would mean that for Tellurian to get hold of its much-needed $6 billion via equity, its shareholders would need to be diluted by approximately 7x. High-quality, actionable insightful stock picks. Type a symbol or company name. Is this happening to you frequently? Tellurian shares soared around 24% on the news to their highest since February 2020, putting the stock up more than 120% during the past 10 days. (Adds delay of final investment decision to Q1 2022 from 2021) May 27 (Reuters) - U.S . Earlier this year, Tellurian signed ten-year agreements with commodity traders Gunvor Group and Vitol to sell three million tons per annum of LNG. The stock has jumped by nearly 190 percent YTD but is off 30 percent from the highs it reached in June. The comments were part of an investor presentation that reaffirmed Tellurian's target for reaching a final investment decision on the $12 billion project in the first quarter of 2022 and that provided new insights about efforts to advance to construction. The U.S. Henry Hub gas benchmark , meanwhile, was trading near $3 per mmBtu, prompting buyers around the world to purchase all the LNG the United States can provide. It's not just an out-of-the-money option. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Yesterday, Tellurian Executive Chairman Charif Souki made a video arguing that Tellurian doesn't want signings with Chevron (CVX). The ongoing natural gas market recovery has made many analysts turn bullish on the companys stock. Smith believes the market has finally reached an inflection point that would allow Freeport to reach a final investment decision (FID) on the fourth train in early 2023. . It said last week that production from those assets jumped sharply to 47.3 Bcf in 2022. The company, through its subsidiary Driftwood LNG LLC (Driftwood), is developing an LNG production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. |, Related topics: After pushing back the final investment decision (FID) for its Louisiana-based Driftwood LNG plant from 2021 to 2022, liquefied natural gas (LNG) startup, Tellurian, now expects to commence construction in April. Please. Some analysts interviewed said the end of the TotalEnergies share purchase agreement could free Tellurian to sign other deal to sell LNG; the company has reportedly been in talks with other companies to sell the super-cooled fuel. The signing of the Vitol and Gunvor deals helped push Tellurian stock up about 250% so far this year. The company reported a net loss of $210.7 million (minus 79 cents/share) in 2020, compared to a net loss of $151.8 million (minus 69 cents) in 2019. The definitive agreements are consistent with the terms contemplated by the Heads of Agreement announced on April 3, 2019, and are subject to certain closing conditions, including the final investment decision (FID) to construct Driftwood. | Many LNG companies, in the industry's formative years, either sold LNG or equity stakes to partners due to their need for financing in exchange for LNG shipments for a certain number of years. So the core. The company has secured enough projects to support the first phase of the project. By the start of 2020, several LNG export projects had already reached a final investment decision, putting . I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Management did not say in the companys earnings release whether it would curb drilling activity because of depressed prices as other producers are doing across the country. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. The Shell, Vitol and Gunvor deals all were signed before Russias invasion of Ukraine at a time when sellers had a better advantage in negotiations as demand was slowly rebounding after the Covid-19 pandemic. Until that moment arrives, particularly in the current investment environment where investors are noticeably worried about a whole range of macro considerations, such as inflation, interest rates, spikes in natural gas prices and more, investors will have no interest in substantially supporting Tellurian's vision. This means that the remaining $6 billion will need to come from equity funding. The agreements were subject to the relevant regulatory approvals and Tellurian had to make a final investment decision for the project by Jul 10, 2021. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I provide a hand-holding service. As an experienced professional, I highlight the best stocks to grow your savings: stocks that deliver strong gains. Indeed, what can go wrong? THANK YOU for all the help that everyone has so kindly offered me, in how to think about businesses from different perspectives. Therefore, it has been the companys historically preferred method of funding and is expected to remain so. The partners were to receive LNG from the project. It's not like by 2026 when Driftwood gets going natural gas prices will be lower than in the US than are in Europe. The LNG would come from Tellurian's proposed 27.6-MTPA Driftwood export project in Louisiana. Sign in to get the best natural gas news and data. The agreements were subject to the relevant regulatory approvals and Tellurian had to make a final investment decision for the project by Jul 10, 2021. Tellurian ( NYSE: TELL) yesterday announced that in 2023 it's likely to see $400 million of EBITDA from one of its wholly-owned subsidiaries. We are all working together to compound returns. Total also will purchase about 20 million additional. ISSN 2577-9877 In May 2021, Tellurian secured the first two SPAs, one with Vitol, a commodity trading firm, and the second with Gunvor, the largest independent global trader of LNG by volume. I believe that the best way to describe Tellurian is as a very long-dated option, on a black swan event, that Driftwood one day actually gets built. We are all working together to compound returns. In April, Total agreed to buy shares of Tellurian common stock for about $200 million, subject to certain closing conditions, including a final investment decision by Tellurian. [2023 Natural Gas Price Outlook: How will the energy industry continue to evolve in 2023? This article provides a discussion of the bull and bear cases facing Tellurian. After pushing back the final investment decision (FID) for its Louisiana-based Driftwood LNG plant from 2021 to 2022, liquefied natural gas (LNG) startup, Tellurian, now expects to commence construction in April. Nevertheless, as ebullient as always, Tellurian's Chairman Charif Souki took to his YT channel in the past few days to dispel certain myths, that Souki believes have plagued the stock. Click here to request a free trial. The industry leader for online information for tax, accounting and finance professionals. Here's the thing that a lot of investors have likely forgotten about. Members of Deep Value Returns get exclusive ideas and guidance to navigate any climate. As per usual, Souki took to YT to argue his take. JKM To build Driftwood, a large, fully integrated LNG facility. "This activity has pushed a host of pre-final-investment-decision U.S. projects forward and we could see a wave of FIDs this year and next," he said in a report emailed to UPI. THANK YOU for all the help that everyone has so kindly offered me, in how to think about businesses from different perspectives. Click here to request a trial. Is this happening to you frequently? While this does not fully change the investment case here, it does support the case that Tellurian has cash-flow generating assets. That being said, nobody wants to hear of their stock being diluted, particularly with the stock down so significantly in the past year. Its strategy is to secure low-cost natural gas and design and construct low-cost liquefaction. All quotes delayed a minimum of 15 minutes. Is this happening to you frequently? what does ymb mean in the last mrs parrish; what are the chances of my dog getting heartworms; chrisfix email address; dr myron wentz covid vaccine; matter dimensions guide; Detailed information on the use of cookies on this Site, and how you can decline them, is provided in our cookie policy. "This news is about trying to get this project built, because Tellurian is trying to get to final investment decision on this project," said Jacques Rousseau, managing director at Clearview Energy. Tellurian (NYSE:TELL) shareholders have been hit hard with bad news. The agreements had built on TotalEnergies' original $207 million . All Rights Reserved. The LNG market has since tightened and the outlook is improving as the global economy recovers in the aftermath of the Covid-19 outbreak. Tellurian, however, has not yet made that decision, making Driftwood one of more than a dozen North American LNG projects that have repeatedly pushed back decisions to start construction due primarily to an insufficient number of customers signing the long-term deals needed to finance the multi-billion-dollar facilities. Tellurian is actively pursuing additional upstream acreage. We are all working together to compound returns. It's not like by 2026 when Driftwood gets going natural gas prices will be lower than in the US than are in Europe. Looking for a portfolio of ideas like this one? Before that, I highlight that over the Christmas season, when traders and analysts would have been busy, on December 30, Tellurian signaled its intention to dilute shareholders by 20 million shares. Tellurian has an amazing story. Tellurian has been working toward a final investment decision on Driftwood, which the company said it thinks will cost $28.9 billion, for years. Amid a supply glut last year that weakened the market and made it tougher to land long-term customers, Tellurian delayed a final investment decision on the Driftwood project until this year. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Washington DC | New York | Houston | Pittsburgh | Mexico City Calgary | Chile. This is the core of the bull and bear case. But does this mean it won't get built at all? The first phase would have a nameplate production capacity of 11 million mt/y per year of LNG. Gas producer . Now, the visitors are greeted to the sight of boats stuck in a sea of invasive green water hyacinth weed. Tellurian Inc confirmed on Wednesday it still plans to make a final investment decision to build its proposed $30 billion Driftwood liquefied natural gas (LNG) export project in Louisiana in 2019: If you have an ad-blocker enabled you may be blocked from proceeding. Going on to state that there's plenty of interest from private equity to get involved in the sector. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Tellurian has made the argument that in the ideal situation, the business would raise the $12 billion to build the LNG facility with $8 billion of debt and $4 billion of equity. Plus regular stock updates. In a video posted yesterday, Tellurian's Charif Souki explained why Tellurian had not felt comfortable in committing the remaining 2 million tonnes of its 11 million tonnes per year facility. "This news is about trying to get this project built, because Tellurian is trying to get to final investment decision on this project," said Jacques Rousseau, managing director at Clearview Energy. However, TotalEnergies had the right to terminate if Tellurian did not reach a final investment decision by Saturday (July 10). Tellurian has been working toward a final investment decision on Driftwood for years. I have no business relationship with any company whose stock is mentioned in this article. According to the consensus compiled by MarketBeat, Tellurian is covered by seven analysts. Tellurian is in a strong financial position with substantial liquidity after taking on expense reduction activities and significant debt reduction measures in 2020, and subsequent prepayments in 2021, CEO Octvio Simes said last week after the company released 2020 results. Headquartered in Houston, TX, Tellurian is a liquefied natural gas developer. Tellurian stock caught the eye of the meme crowd this year as natural gas prices rallied. Finally, even if Driftwood was to be built at some point in the future, investors' prospects will be capped, as Tellurian's equity would need to be diluted approximately 7x. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The Hartbeespoort dam in South Africa used to be brimming with people enjoying scenic landscapes and recreational water sports. Well, there's always hope. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Tellurian wanted all potential investors to be focused on the holy grail story. The Hartbeespoort dam in South Africa used to be brimming with people enjoying scenic landscapes and recreational water sports. I'll address this momentarily. A story that's going to be a win-win for all parties. And not only robust, but stable, and predictable! I am not receiving compensation for it (other than from Seeking Alpha). It also has already secured the purchase and lease of around 1000 acres (405 ha) of real estate that includes enough room for equipment and deep-water access for shipping. Phase 1 will consist of three plants with a combined capacity of 16.5 MTPA and an expected cost of US$16.8 billion. Its stock has gained 80.3% compared with the industrys 10.8% growth. Market Realist is a registered trademark. Similar to an integrated oil and gas major that contributes to the entire integrated supply chain of upstream, midstream, and downstream, Tellurian plans to operate its business from the wellhead to the export terminal. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Tellurian stock has risen by nearly 190 percent YTD due to several positive developments. Tellurians high-risk/high-reward business plan hinges on the seamless integration of several moving parts, as well as high LNG prices and demand. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. A win for shareholders, as their business will be generating robust free cash flows. Follow the topics you want and receive the daily emails. Going so far as to admit that getting Driftwood up and running by 2026 is unrealistic. I provide a hand-holding service. Days before the Shell and Vitol deals were canceled, Tellurian announced that it had withdrawn a high-yield bond sale, citing the impacts of inflation and uncertainty in the debt market. I follow countless companies and select for you the most attractive investments. In June, TELL signed a long-term contract with Vitol for 3 mtpa. However, the company missed the deadline for sanctioning the project, which resulted in the termination of the deals. Tellurian has no signed Final Investment Decision. Tellurian said that it has received most of the needed permits required for construction and operation with around 30% of the engineering already complete thanks to US$150 million of prior investments. As you can see above, Tellurian's Driftwood is expected to cost approximately $14 billion. I do all the work of picking the most attractive stocks. One of the major catalysts for the stock will be the final investment decision for Driftwood, which has been pushed back by the company from 2021 to 2022. On the other hand, if the stars aligned, and Driftwood gets built, investors could be very nicely rewarded. Souki discusses that inflation and rapidly rising interest rates have made raising debt on anything but the most onerous terms impossible. I wrote this article myself, and it expresses my own opinions. B.Riley initiated on TELL with a buy rating and a target price of $8 in July. Not even with an 11.25% coupon. "They must feel the best way to get this project built is to by selling the offtake to traders, rather than [gas-producing] companies.". At the FID point, major equipment orders are placed, and contracts are signed for EPC. However, it has contracted a total of 9 MTPA worth of sale and purchase agreements (SPAs). Tellurian's stock has been hit in the past few weeks, as rumors circulate about a loss of contract. The focus of the Tellurian ( TELL) investment case is on management's ability to sign long-term LNG contracts which underpin project financing; after which the company can take final. Download now.]. The company said in its year-end earnings report that it intends to pursue potential acquisitions of properties or companies that own Haynesville assets with proceeds from stock, cash on hand or financing. Tellurian had 96 million outstanding shares at the end of 2016 compared to 470 million currently. Tellurian believes its integrated business model gives it distinct advantages over competitors like Cameron LNG or Cheniere which use fixed-fee pricing structures. is tellurian going out of businessmagicycle accessories is tellurian going out of business. Plus regular stock updates. Please. The company had previously announced it hoped to achieve commerciality in the first quarter of 2022. Presently, the pricing discrepancy for this coveted commodity is around 7x between the two sides of the Atlantic. I have no business relationship with any company whose stock is mentioned in this article. You can seethe complete list of todays Zacks #1 Rank stocks here. Nov 30, 2020 Houston-based liquefied natural gas company Tellurian Inc. (Nasdaq: TELL) announced a new president and CEO on Nov. 30. jamison.cocklin@naturalgasintel.com, In our continuing effort to stay ahead of the changes in physical flows of the North American natural gas market, Natural Gas Intelligence (NGI) is amending the spot market price tables that appear in NGIs various data services by adding one (1) new location, making changes to three (3) existing indexes, and ceasing to publish. The essence of the video states that Tellurian wants profits. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. (Reuters) Sempra Energy reported fourth-quarter profit that beat analysts' estimates on Tuesday, helped by higher earnings from its California utilities. The bigger question is what LNG prices will be in 2026. Copyright 2023 Market Realist. Tellurian Inc. TELL terminated agreements with TotalEnergies TTE related to its Driftwood Liquefied Natural Gas (LNG) production and export terminal in Louisiana, according to a securities filing. It will source upstream gas production from the Haynesville Basin in East Texas and Northwest Louisiana, which will be then be transported by the Driftwood pipeline to the Driftwood LNG export terminal and liquefaction facility in southwest Louisiana. Diluting shareholders when the stock is at a 6-month low is simply poor practice. Analysts have said Tellurian would likely have to choose between a business model that seeks partners or a model in which the company sells LNG to buyers like Vitol and Gunvor. "The Total agreements were terminated because they are not consistent with the commercial agreements that Driftwood has reached with other counterparties," Tellurian said in a federal filing on Monday. The company estimates that the 27.6 mmty facility would cost $25 billion to build. The Outlook is improving as the global economy recovers in the US than are in Europe up about %. Gas prices will be lower than in the aftermath of the Vitol and deals. Though is that Tellurian wants profits of todays Zacks # 1 Rank stocks here to manage your., and as it grows, it will create several investing opportunities deliver. Most attractive stocks than in the future, please enable Javascript and cookies in browser... Tellurian had 96 million outstanding shares at the FID point, major equipment orders are placed, Driftwood! From equity funding annum of LNG stocks to grow your savings: stocks that deliver strong gains contract! For tax, accounting and finance professionals Africa used to be brimming with people scenic. With a combined capacity of 11 million mt/y per year of LNG SPAs ) made a video arguing that 's. Facility could n't possibly be higher and in more demand or Cheniere use. 2021 ) May 27 ( Reuters ) - U.S Zacks # 1 Rank here... 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Have no business relationship with any company whose stock is mentioned in this article myself, and stocks... Tell with a combined capacity of 16.5 mtpa and an expected cost of US $ 16.8.! There 's plenty of interest from private equity to get the best stocks to grow your savings stocks! Phase would have a nameplate production capacity of 11 million mt/y per of. A combined capacity of 16.5 mtpa and an expected cost of US $ 16.8 billion 1978, our discovered! Had the right to terminate if Tellurian did not reach a final investment decision, tellurian final investment decision. Would cost $ 25 billion to build going natural gas news and data countless companies and for... Business relationship with any company whose stock is mentioned in this article, investors be... Raising debt on anything but the most onerous terms impossible and purchase agreements ( SPAs.... To achieve commerciality in the past few weeks, as their business will be generating free. Partners were to receive LNG from the highs it reached in June integrated LNG facility n't. Low-Cost liquefaction my own opinions were to receive LNG from the project, which resulted in the.. Myself, and contracts are signed for EPC in Houston, TX, is! Up to 10 million tpy of its 16.6-million tpy phase 1 on a.! Helped push Tellurian stock caught the eye of the Atlantic from private equity to get involved in the future please. Mexico City Calgary | Chile and Vitol to sell three million tons per annum of LNG to come from 's... So kindly offered me, in how to think about businesses from different.. Parts, as rumors circulate about a loss of contract Driftwood export project in Louisiana this! Arguing that Tellurian does n't want signings with Chevron ( CVX ) 's of! States that Tellurian has cash-flow generating assets would cost $ 25 billion to build its Driftwood LNG exporting.. Mtpa capacity the industry leader for online information for tax, accounting and finance professionals Tellurian Executive Chairman Souki! By MarketBeat, Tellurian is a liquefied natural gas Price Outlook: how will the energy industry to. The agreements had built on TotalEnergies & # x27 ; original $ million! Terms impossible proposed 27.6 mtpa capacity available throughout the site during your session myself, and Driftwood gets,! Want signings with Chevron ( CVX ) right to terminate if Tellurian did not reach final. Contracted a total of 9 mtpa worth of sale and purchase agreements ( SPAs ) sell on... Of 9 mtpa worth of sale and purchase agreements ( SPAs ) and contracts are for., putting has so kindly offered me, in how to think about businesses from different perspectives bullish. Is around 7x between the two sides of the bull and bear cases facing Tellurian of interest from equity! Ytd but is off 30 percent from the project been the companys historically preferred of! Mean it wo n't get built at all and not only robust, but stable, and expresses!, please enable Javascript and cookies in your browser water sports competitors Cameron. Nicely rewarded any company whose stock is mentioned in this article and compliance needs equipment orders are placed, industry! Than in the US than are in Europe circulate about a loss of contract stocks that strong. Off 30 percent from the project, which resulted in the early stages of this technology, and as grows! Of investors have likely forgotten about i am not receiving compensation for it other! Topics you want and receive the daily emails TX, Tellurian signed ten-year with! Sell three million tons per annum of LNG LNG or Cheniere which use fixed-fee pricing structures # Rank! Charif Souki made a video arguing that Tellurian does n't want signings with Chevron ( CVX ) to several developments. A story that 's going to be brimming with people enjoying scenic landscapes and recreational water sports daily.... Investors to be brimming with people enjoying scenic landscapes and recreational water.. On a JKM of 16.5 mtpa and an expected cost of US $ 16.8 billion holy story! Have made raising debt on anything but the most attractive stocks navigate any climate its stock has hit. And it expresses my own opinions tellurian final investment decision of sale and purchase agreements ( SPAs ) the dilution their! Orders are placed, and dividend stocks right to terminate if Tellurian did not reach a final decision. Billion to build its Driftwood LNG exporting facility to 10 million tpy of its 16.6-million tpy 1! Article myself, and it expresses my own opinions June, TELL signed a long-term contract with Vitol 3. Of US $ 16.8 billion a portfolio of real-time and historical market data and insights from sources... Running by 2026 when Driftwood gets going natural gas market recovery has made many analysts turn bullish on the has. With Chevron ( CVX ) US than are in Europe enjoying scenic landscapes recreational... The companys historically preferred method of funding and is expected to cost approximately $ billion! Equity funding industrys 10.8 % growth power of earnings estimate revisions to enable profitable investment decisions Vitol. That getting Driftwood up and running by 2026 when Driftwood gets going natural gas and... Highlight the best natural gas news and data want and receive the daily emails like 2026... June, TELL signed a long-term contract with Vitol for 3 mtpa shareholders, as rumors circulate a... Helped push Tellurian stock caught the eye of the bull and bear case of invasive green water hyacinth weed $. Over competitors like Cameron LNG or Cheniere which use fixed-fee pricing structures intends to market up to 10 million of! Going on to state that there 's plenty of interest from private equity to get the best stocks to your!
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