HOUSTON--(BUSINESS WIRE)--Tellurian (NASDAQ: TELL) announced today that its subsidiary Haynesville Global Access Pipeline LLC (HGAP) is offering a non-binding open season to secure prospective shippers for a proposed 42-inch natural gas pipeline connecting the Haynesville and Bossier shale production region to growing natural gas demand in Southwest Louisiana. HGAP is estimated to cost approximately $1.4 billion to construct and will have the capacity to transport up to two billion cubic feet of natural gas per day. Construction is projected to begin in 2022, with an in-service date of mid-2023.
HGAP is part of Tellurian’s previously announced proposed Tellurian Pipeline Network, a project that represents a $7.0 billion investment in U.S. infrastructure and will create approximately 15,000 jobs in Texas and Louisiana. The investment is incremental to the $15.2 billion investment that Tellurian plans for Driftwood LNG, a proposed liquefied natural gas (LNG) export facility near Lake Charles, Louisiana.
President and CEO Meg Gentle said, “HGAP will connect the Haynesville Shale with growing markets in Southwest Louisiana, where natural gas demand is expected to triple, reaching approximately 12 billion cubic feet per day by 2025. Louisiana continues to serve as the U.S. natural gas market hub, requiring additional infrastructure to efficiently deliver gas from fields in the Northeast U.S., the Midwest, and Texas to local and global markets. HGAP will improve the connection between North and Southwest Louisiana, debottlenecking existing pipeline routes and providing shippers access to expanding markets.”
The proposed pipeline will stretch approximately 200 miles and interconnect with the Midcontinent Express and Gulf Crossing pipelines in Claiborne Parish and to other pipelines located near Gillis in Calcasieu Parish, Louisiana. The pipeline system is anticipated to have multiple receipt and delivery locations, connecting industrial facilities and other third-party pipelines.
The open season will begin at noon central time on Wednesday, February 21, 2018 and runs through Friday, April 6, 2018 at 4 p.m. central time. Interested parties are encouraged to contact Joey Mahmoud, President of HGAP at 832.320.9228 for more information.
About Tellurian Inc.
Tellurian was founded by Charif Souki and Martin Houston and is led by President and CEO Meg Gentle. Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. 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. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol “TELL”.
For more information, please visit www.tellurianinc.com.
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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,” “proposed,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the cost, capacity, timing, routing, impact and other aspects of HGAP and other components of the Tellurian Pipeline Network and Tellurian’s overall strategy and business. 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 the matters discussed in Item 1A of Part II of the Quarterly Report on Form 10-Q for the quarter ended September 30, 2017 filed by Tellurian with the Securities and Exchange Commission (the “SEC”) on November 9, 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.
