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Wednesday, May 25, 2022

Why Did Tellurian (TELL) Stock Fall 13% In Early Session Tuesday?

In Tuesday’s session, Tellurian Inc. (TELL) shares were down -13.45 percent at $4.70. Shares of Tellurian (TELL) have fallen -7.02 percent to close the previous session at $5.43. The stock had a trading volume of 32.62 million shares, which was more than the average daily trading volume of 18.73 million shares for the previous 50 days.

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Tellurian (TELL) has risen 32.12% in the previous five days but has gained 60.18 percent in the last month. Over the previous three months, the stock price has increased by 70.22 percent, and it has increased by 76.30 percent this year. Even after starting work on a major location, TELL’s stock is plummeting.

What project has TELL started building?

Tellurian (TELL) wants to construct a low-cost, global natural gas business that can successfully distribute natural gas to clients all over the world. Tellurian is building a portfolio of natural gas production, LNG marketing and trading, and infrastructure, including an LNG export plant with a capacity of 27.6 million tonnes per year (mtpa) and an accompanying pipeline. TELL’s headquarters are in Houston, Texas.

Tellurian (TELL) announced today that it has issued Bechtel Energy Inc. (Bechtel) a limited notice to proceed under its completed Engineering, Procurement, and Construction (EPC) contract to begin construction of phase one of the Driftwood LNG terminal, a liquefied natural gas (LNG) export facility near Lake Charles, Louisiana.

  • Energy security is the main worry in numerous nations today and the United States should do its part to supply LNG to the worldwide market as fast as could be expected.
  • Bechtel’s first exercises incorporate destruction, common site readiness, and development of basic establishments, and Baker Hughes will advance assembling two of the gaseous petrol turbines expected for stage one of the venture.
  • Driftwood LNG is a roughly 27.6 mtpa liquefaction trade office.
  •  Stage one will incorporate two LNG plants with a product limit of up to 11 mtpa.
  • Driftwood has gotten every one of the significant licenses expected for development and activity, has advanced nitty gritty designing to roughly 30% complete, and has finished the buy and rent of around 1,200 sections of land guaranteeing an ideal building site with more than adequate laydown and deepwater access for delivery.

How well-prepared is TELL for this project?

Tellurian (TELL) is very much progressed in Driftwood LNG’s point-by-point designing and significant gear requests, and it has finished every one of the proprietors’ tasks expected for it to surrender the site to Bechtel. Starting development currently permits TELL to convey upon its powerful timetable for the first LNG in 2026 while it finishes the venture support.

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