Tellurian Inc.'s wholly owned subsidiary Driftwood LNG LLC has exercised its long-term lease option with the Lake Charles Harbor and Terminal District on the 477-acre site in the Sulphur, Louisiana.
The ground lease agreement has an initial term of 20 years with extension options of up to 50 years.
"Tellurian is taking necessary steps to prepare for Driftwood LNG construction by entering into this long-term lease and executing certain projects such as road improvements and utility relocation," said Executive Vice President and COO Keith Teague. "We have an active and productive relationship with Port of Lake Charles officials and they have been helpful partners from the early development and site selection of our liquefied natural gas export terminal. Tellurian appreciates and thanks the Lake Charles Harbor and Terminal District Board of Commissioners for their hard work and the ongoing role they will play in the success of Driftwood LNG."
For more information, visit www.tellurianinc.com or call (832) 962-4000.
