HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today it has begun a partnership with the National Forest Foundation (NFF) on a five-year, $25 million plan for reforestation and other projects across the United States. One of the first projects will be to re-plant 300,000 trees in the Kisatchie National Forest (Kisatchie), located near Alexandria, Louisiana. Kisatchie was heavily damaged by recent weather events and lost nearly 40,000 acres of native trees.
Executive Chairman Charif Souki said, “Tellurian is beginning a long-term investment in reforestation, starting in our own backyard, as new trees help provide nature-based carbon sequestration, cleaner air and environmental resiliency. The NFF, in collaboration with the U.S. Forest Service, has identified multiple projects across the country that we will support in the coming years. We recognize that natural climate solutions are effective and critically needed today, and that the NFF offers a powerful suite of strategies in this regard.”
"Tellurian’s investment in healthy, resilient forests and their ability to capture and store carbon is a major step forward,” noted Mary Mitsos, NFF President & CEO. “This partnership will not only plant a significant number of trees on National Forest land, but it will also invest in the supply chain of seedlings critical for our nation’s long-term reforestation needs. We appreciate Tellurian’s tremendous commitment across multiple dimensions of our forests’ future.”
National Forests comprise 193 million acres nationwide, providing extensive ecosystem services including drinking water, carbon sequestration, wildlife habitat, and more. Managed by the U.S. Forest Service, these public lands are threatened by unnaturally severe wildfire, blight, and pests. The NFF and its partners counter these threats to ensure more resilient, productive, and beautiful forests. Tellurian now joins that mission.
"This is a forest conservation trifecta,” said NFF Executive Vice President Ray A. Foote. “We will plant 13 million trees in the next five years starting immediately with 300,000 trees on the Kisatchie National Forest. We will ramp up tree nursery capacity to secure a future supply of millions of quality seedlings. Finally, we will increase forests’ ability to hold carbon which is a critical natural climate solution. This $25 million investment by Tellurian, the largest contribution in the NFF’s history, will yield measurable conservation results for years to come. We are grateful for this generous and far-reaching commitment.”
Tellurian chose to work with the NFF because of the organization’s track record of delivering quantifiable conservation results and its cutting-edge work on carbon strategies through forest management.
About Tellurian Inc.
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 marketing and 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 NYSE American under the symbol “TELL”. For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG
About the National Forest Foundation
The National Forest Foundation works on behalf of the American public to inspire personal and meaningful connections to our National Forests. It leverages private and public funding, leading conservation efforts to restore forests, plant trees in areas affected by fires, insects, and disease, enhance wildlife habitat, and improve recreational opportunities. The NFF develops natural climate solutions and innovative conservation-finance initiatives. It facilitates common ground around solutions to forest challenges by bringing communities, businesses, officials, and partners together. The NFF believes our National Forests and all they offer are an American treasure and are vital to the health of our communities and nation. For more information, please visit www.nationalforests.org.
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,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, construction and other aspects of the Driftwood project, future production and drilling activities and the timing of a notice to proceed with respect to the project. 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 I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2020 filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 24, 2021, and other Tellurian 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.