Page 13 - GLNG Week 44 2021

GLNG NEWS IN BRIEF GLNG

Tellurian reports third- EUROPE growth. We are looking forward to building
a long-term partnership with Gasum who
quarter 2021 results Gasum has divested the will remain a major customer of the Risavika
liquefaction plant under a long-term contract.
Tellurian completed sales from Driftwood Risavika LNG liquefaction We will be working closely with Gasum, and
LNG’s capacity for the first two plants with the the Risavika staff to ensure a safe transition of
signing of threemn tonnes per annum (mtpa) plant to North Sea operations,” adds Andy Heppel, CEO North
in sale and purchase agreements (SPAs) with Sea Midstream Partners.
Shell and raised approximately $116mn in a Midstream Partners – The contract between Gasum and North
public stock offering in the third quarter of Sea Midstream Partners was signed on
2021. Subsequent to the quarter end, Tellurian continues as a major off- November 1st, 2021. The transaction is
transferred its common stock listing from expected to be closed by mid November
the Nasdaq Capital Market to the NYSE taker for LNG and LBG under 2021. As a part of the transaction, Gasum
American. will remain a major off-taker of the LNG and
Tellurian ended its third quarter of a long-term contract LBG produced at Risavika under a long-term
2021 with approximately $210.8mn of cash contract. The separate bunkering solution,
and cash equivalents and no borrowing The energy company Gasum has reached serving maritime customers, is not included
obligations. Natural gas sales for the third an agreement with North Sea Midstream in the transaction scope.
quarter generated approximately $15.6mn Partners on the divestment of the Risavika Both parties have agreed not to disclose the
in revenues compared to $7.3mn during the LNG liquefaction plant while continuing transaction price.
same period of 2020. under a long-term contract as a major GASUM, November 02, 2021
Tellurian has a strong balance sheet offtaker of the LNG and LBG produced. The
consisting of approximately $483.9mn in transaction is in line with Gasum’s growth GTT obtains tank design
total assets. Tellurian reported a net loss of strategy and the evolving LNG market.
approximately $18.7mn, or $0.04 per share “Gasum have concluded that owning this order for a new LNG carrier
(basic and diluted), for the three months type of upstream LNG liquefaction asset is no
ended September 30, 2021. longer in the core of our strategy. However, from Hudong-Zhonghua
President and CEO Octávio Simões said: the long-term tolling contract ensures that
“Tellurian recently brought production we will continue to deliver liquefied natural Shipbuilding (Group)
online from two newly completed natural gas gas (LNG) and liquefied biogas (LBG) to
wells, adding to our financial strength and our customers from the Risavika plant in the GTT announces that it has received, in
integrated model that provides a valuable future as well. The divestment of Risavika will October 2021, an order from its partner
hedge to volatile global prices. By year end enable us to optimize our capital allocation to the Chinese shipyard Hudong-Zhonghua
2021 we plan to produce approximately 70mn speed up the execution of our growth strategy Shipbuilding (Group) (HZ) for the tank
cubic feet equivalent per day (mmcfed). In and to expand the Nordic gas market,” says design of a new LNGC on behalf of the leasing
addition, we have authorised a new drilling Gasum’s Interim CEO Kai Laitinen. entity of the Chinese CSSC Group.
programme and plan to drill 12-14 wells North Sea Midstream Partners (NSMP) is As part of this order, GTT will design the
to produce approximately 220 mmcfed by a leading independent midstream company tanks of the vessel which will offer a capacity
year end 2022. We have turned our focus to with large scale gas infrastructure assets of 174 000 m3. The LNGC tanks will be
financing Driftwood LNG and plan to give serving the North Sea. fitted with the GTT NO96 L03+ membrane
Bechtel notice to proceed with construction in “This acquisition is a strategic step for containment system.
early 2022.” NSMP. The Risavika liquefaction plant is The vessel will be delivered in the first
TELLURIAN, November 03, 2021 an attractive addition and a geographic quarter of 2024.
expansion for NSMP which diversifies our GTT, November 04, 2021
portfolio and extends our platform for

Week 44 05•November•2021 www. NEWSBASE .com P13