Meg and Mega
Meg Gentle has mega plans for the U.S. LNG industry and one heck of a smart business strategy to launch them. As a former executive of Houston-based Cheniere, Gentle now leads LNG-focused Tellurian as CEO. Reese Energy Consulting today is following the latest news from Tellurian, which just signed a Memorandum of Understanding with India’s largest LNG importer Petronet. The $7.5 billion deal includes Petronet’s purchase of an 18% equity stake in Tellurian’s Driftwood LNG project and up to 5 million tons per year (mtpa). Driftwood will comprise a 27.6 mtpa export facility near Lake Charles, La., and a 96-mile pipeline that will connect the LNG terminal to the U.S. natural gas market. Petronet is the second international company to invest in Driftwood right behind French energy giant Total earlier this year. But maybe the larger story is Tellurian’s debt-financing strategy in which LNG buyers will own a stake in the project. That along with the company’s own production of gas supplies to reduce dependence on third-party producers. For Gentle, Driftwood is just the start of her vision for both Tellurian and the U.S. LNG industry and we can’t wait to see what’s next.