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28 May 2019

The Tellurian Interview: Tarek Souki, SVP, LNG marketing and trading

US developer Tellurian made headlines in December last year when it signed a memorandum of understanding (MoU) to sell 1.5 mtpa from its Driftwood LNG project indexed to JKM under a 15-year agreement with trader Vitol. If this MoU translates into a sales and purchase agreement (SPA), it would be the first fully indexed to the north-east Asian benchmark. More recently, at LNG2019 in Shanghai in April, French major Total signed a non-binding agreement to buy 1.5 mtpa of JKM-indexed LNG from Driftwood over 15 years, in addition to an equity investment in the project partnership.

Last month Tellurian said that a final investment decision (FID) on Driftwood could be pushed from its previous June target to the second half of the year. But with key approvals now in place, the company still plans to start construction on its 27.6 mtpa Louisiana project before the end of 2019. In this interview, Tarek Souki, SVP for LNG marketing and trading, explains the company’s equity investment business model and its strategy for sourcing feed gas, and gives his view on the LNG implications of the US-China trade dispute.

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