Martin Houston and Charif Souki’s new LNG-producing company Tellurian Investments is set to go public next month and quadruple its staff in 2017.
Former BG Group chief operating officer Houston, who founded the company with ex-Cheniere Energy chief executive Souki, says the company will be listed on Nasdaq following its reverse takeover of Denver exploration and production company Magellan Petroleum, announced in August.
Houston says Tellurian employs around 50 staff but has just taken out new office space in Houston and will probably boost its numbers to nearer 200 next year.
Asked whether Tellurian, which is gearing up for a big reveal at next year’s Gastech meet in Japan, would take a position in shipping, he said it would more likely partner with a provider.
Speaking this week at CWC’s World LNG Summit, chief executive Meg Gentle said the industry was going through one of the greatest periods of change ever seen. Detailing current market pricing, she said the market was finally gaining some momentum.
Tellurian announced last month that GE Oil & Gas was ploughing $25m into the company, which is developing a 26 million tonnes per annum (mtpa) project, Driftwood LNG. Gentle said the two companies would work together to design “the lowest-cost liquefaction for the global market”.
Tellurian is building the project in blocks of 1-mtpa single trains and has spoken about being able to price the LNG it produces at $5 per MMBtu.
Article courtesy of Lucy Hine, TradeWinds