Total is investing $207mln in Driftwood LNG project

The start-up company Tellurian Investments and Total announced that Total is acquiring approximately 23% of Tellurian at $5.85 per share for an amount of $207 million to develop an integrated gas project, from the acquisition of competitive gas production in the US to the delivery of LNG to international markets from the Driftwood LNG terminal.
Driftwood LNG is in the engineering design and pre-filing phase of the project. Tellurian expects to commence construction of Driftwood LNG in 2018 and produce LNG in 2022.
Tellurian is a private company developing natural gas liquefaction export projects. It was founded in 2016 and is based in Houston, Texas. The company is underpinned by a group of experienced industry experts who focus their collective knowledge and expertise on establishing a new global standard to deliver low cost LNG. Tellurian delivers results using a repeatable and simple design, off-the-shelf equipment and multiple production units to enhance reliability. Tellurian entered into a merger agreement with Magellan Petroleum Corporation on August 2, 2016, and expects the agreement to close in the first quarter of 2017.