Tellurian takes flexible approach

US independent banks on cost control and optionality to fulfil its full value chain ambitions

There is no shortage of US Gulf Coast LNG export facility developers. But Tellurian stands out for a model where it not only wants to build and own a terminal, but to produce its own gas, build pipelines and sell cargoes to the global LNG market. The firm, which was set up by former executives of pioneering US terminal developer Cheniere and UK producer BG, has already secured investment from its EPC contractor Bechtel, oil services heavyweight BHGE and Total. But it is now negotiating with interested parties for an $8bn investment for a 60pc stake in Driftwood Holdings, which will be responsible for the production, pipeline and terminal operations (see figure 1). The new equity partners wil