President and CEO Octávio Simões said, “Tellurian continues to execute on our plan to market Driftwood LNG volumes on indices that our customers want. Vitol expressed interest in the development of Driftwood early on, and it is fulfilling to finalise this agreement with the world’s largest independent trader of energy. As the world electrifies and our population grows, the demand for reliable, low-cost energy will continue to increase. LNG provides a stable source of fuel at an attractive price, and Tellurian’s integrated model is positioned perfectly to offer volumes on JKM, TTF or blended price basis.”
Executive Vice President LNG Marketing & Trading Tarek Souki added, “Tellurian has made exceptional progress on our intended first phase capacity sales by securing this second SPA with another respected global energy trading business. The two recent agreements represent an aggregate of US$24 billion in estimated revenue; we will continue to be deliberate and selective in choosing our additional customers.”
Pablo Galante Escobar, Global Head of LNG and European Gas & Power at Vitol said: “Vitol is excited to conclude this agreement with Tellurian. Our long-term commitment and investment grade rating will help Tellurian as they continue their path to financial close.”
Ben Marshall, CEO of Vitol Inc. added: “Vitol’s business continues to grow and evolve in the Americas and around the world. This agreement will make Vitol one of North America’s largest exporters of natural gas, providing our customers with cost effective and cleaner fuel solutions.”
